Evercore ISI analyst Mark Mahaney reiterated a Buy rating on Lyft (LYFT) yesterday and set a price target of $77.00. The company’s shares closed last Wednesday at $52.63.
According to TipRanks.com, Mahaney is a top 25 analyst with an average return of 44.9% and a 67.7% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Zillow Group Class A, and Uber Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lyft with a $71.82 average price target, which is a 24.8% upside from current levels. In a report issued on April 27, Wells Fargo also reiterated a Buy rating on the stock with a $77.00 price target.
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The company has a one-year high of $68.28 and a one-year low of $21.34. Currently, Lyft has an average volume of 7.53M.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYFT in relation to earlier this year.
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Lyft, Inc. operates as an online social rideshare community platform. It helps commuters to share rides with friends, classmates, and co-workers going the same way. The company was founded by Marcus Cohn, John Zimmer, Rajat Suri, Matt van Horn, and Logan Green in June 2012 and is headquartered in San Francisco, CA.
