LYFT (NASDAQ:LYFT) had its price target decreased by Seaport Global Securities from $42.00 to $35.00 in a research report released on Tuesday morning, The Fly reports. Seaport Global Securities currently has a sell rating on the ride-sharing company’s stock.
A number of other equities analysts have also weighed in on LYFT. JMP Securities assumed coverage on LYFT in a research note on Tuesday, April 23rd. They set an outperform rating and a $78.00 target price on the stock. Consumer Edge assumed coverage on LYFT in a research note on Monday, April 1st. They set a neutral rating and a $73.00 target price on the stock. Wedbush assumed coverage on LYFT in a research note on Wednesday, March 27th. They set a neutral rating on the stock. DA Davidson assumed coverage on LYFT in a research note on Tuesday, March 19th. They set a buy rating and a $75.00 target price on the stock. Finally, HSBC assumed coverage on LYFT in a research note on Thursday, April 11th. They set a hold rating and a $60.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $71.51.
Shares of LYFT traded down $1.44 during mid-day trading on Tuesday, reaching $54.16. The company’s stock had a trading volume of 15,236 shares, compared to its average volume of 8,509,175. LYFT has a 1-year low of $47.17 and a 1-year high of $88.60.
In related news, Director R. Ann Miura-Ko acquired 1,650 shares of the stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average price of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
A number of institutional investors have recently bought and sold shares of LYFT. Pinnacle Financial Partners Inc. bought a new position in LYFT during the 1st quarter worth $27,000. US Bancorp DE bought a new position in LYFT during the 1st quarter worth $37,000. Hartford Financial Management Inc. bought a new position in LYFT during the 1st quarter worth $39,000. Parkside Financial Bank & Trust bought a new position in shares of LYFT in the 1st quarter valued at $48,000. Finally, SEI Investments Co bought a new position in shares of LYFT in the 1st quarter valued at $75,000. Hedge funds and other institutional investors own 1.66% of the company’s stock.
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.