LYFT (NASDAQ:LYFT) Raised to Neutral at Atlantic Securities

Atlantic Securities upgraded shares of LYFT (NASDAQ:LYFT) from an underweight rating to a neutral rating in a research report report published on Thursday, BenzingaRatingsTable reports.

Other analysts also recently issued research reports about the stock. Goldman Sachs Group assumed coverage on shares of LYFT in a report on Tuesday, June 4th. They issued a neutral rating and a $65.00 target price for the company. Citigroup assumed coverage on shares of LYFT in a report on Tuesday, June 4th. They set a buy rating and a $70.00 price objective for the company. Seaport Global Securities decreased their price objective on shares of LYFT from $42.00 to $35.00 and set a sell rating for the company in a report on Tuesday, May 14th. Loop Capital assumed coverage on shares of LYFT in a report on Tuesday, June 4th. They set a hold rating and a $60.00 price objective for the company. Finally, DA Davidson set a $72.00 price objective on shares of LYFT and gave the stock a buy rating in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $72.96.

Shares of LYFT stock traded down $2.98 on Thursday, hitting $59.12. The stock had a trading volume of 8,421,240 shares, compared to its average volume of 6,271,692. The company’s 50 day moving average is $63.00. LYFT has a 12-month low of $47.17 and a 12-month high of $88.60.

LYFT (NASDAQ:LYFT) last announced its earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.66) by $0.98. The firm had revenue of $867.30 million during the quarter, compared to analysts’ expectations of $809.64 million. The company’s quarterly revenue was up 71.8% compared to the same quarter last year. On average, equities research analysts predict that LYFT will post -11.87 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. bought a new position in shares of LYFT in the first quarter valued at approximately $27,000. Catalyst Capital Advisors LLC bought a new position in shares of LYFT in the second quarter valued at approximately $34,000. Flagship Harbor Advisors LLC bought a new stake in LYFT during the second quarter valued at approximately $37,000. RPG Investment Advisory LLC lifted its position in LYFT by 500.0% during the second quarter. RPG Investment Advisory LLC now owns 600 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Finally, Parallel Advisors LLC bought a new stake in LYFT during the second quarter valued at approximately $38,000. Institutional investors own 30.70% of the company’s stock.

LYFT Company Profile

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.

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Analyst Recommendations for LYFT (NASDAQ:LYFT)

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