RBC Capital analyst Mark Mahaney maintained a Buy rating on Lyft (LYFT) on March 27 and set a price target of $47.00. The company’s shares closed last Friday at $27.60.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 9.0% and a 50.1% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Eventbrite.
Lyft has an analyst consensus of Strong Buy, with a price target consensus of $59.76, which is an 111.6% upside from current levels. In a report issued on March 12, Deutsche Bank also upgraded the stock to Buy.
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Based on Lyft’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.02 billion and GAAP net loss of $356 million. In comparison, last year the company earned revenue of $670 million and had a GAAP net loss of $249 million.
Based on the recent corporate insider activity of 102 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
