In a report released today, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Lyft (LYFT). The company’s shares closed last Friday at $58.84, close to its 52-week high of $59.40.
According to TipRanks.com, Feinseth is a 5-star analyst with an average return of 19.8% and a 70.4% success rate. Feinseth covers the Technology sector, focusing on stocks such as Alphabet Class A, Microsoft, and Qualcomm.
Currently, the analyst consensus on Lyft is a Strong Buy with an average price target of $67.54, a 17.1% upside from current levels. In a report issued on February 11, Needham also initiated coverage with a Buy rating on the stock with a $70.00 price target.
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Based on the recent corporate insider activity of 59 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.
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