LYFT (NASDAQ:LYFT) Given New $84.00 Price Target at Cowen

LYFT (NASDAQ:LYFT) had its price target hoisted by Cowen from $78.00 to $84.00 in a report published on Thursday, The Fly reports. They currently have an outperform rating on the ride-sharing company’s stock.

Several other research analysts have also recently commented on LYFT. Evercore ISI began coverage on shares of LYFT in a report on Wednesday, June 12th. They set an outperform rating and a $74.00 price target for the company. Raymond James began coverage on shares of LYFT in a report on Tuesday, April 23rd. They set an outperform rating and a $85.00 price target for the company. Monness Crespi & Hardt began coverage on shares of LYFT in a report on Monday, July 1st. They set a neutral rating for the company. Piper Jaffray Companies boosted their price target on shares of LYFT from $78.00 to $79.00 and gave the stock an overweight rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $72.96.

NASDAQ LYFT traded down $2.98 on Thursday, hitting $59.12. 8,421,240 shares of the stock were exchanged, compared to its average volume of 3,167,944. LYFT has a fifty-two week low of $47.17 and a fifty-two week high of $88.60. The firm has a 50-day simple moving average of $63.00.

LYFT (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($1.66) by $0.98. The firm had revenue of $867.30 million for the quarter, compared to analyst estimates of $809.64 million. The company’s revenue was up 71.8% on a year-over-year basis. Sell-side analysts predict that LYFT will post -11.87 earnings per share for the current year.

Several institutional investors have recently modified their holdings of LYFT. Pinnacle Financial Partners Inc. purchased a new stake in LYFT in the 1st quarter valued at $27,000. Catalyst Capital Advisors LLC purchased a new stake in LYFT in the 2nd quarter valued at $34,000. Flagship Harbor Advisors LLC purchased a new stake in LYFT in the 2nd quarter valued at $37,000. RPG Investment Advisory LLC raised its position in LYFT by 500.0% in the 2nd 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 purchased a new stake in LYFT in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 30.70% of the company’s stock.

About LYFT

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.

See Also: Buy Rating

The Fly

Analyst Recommendations for LYFT (NASDAQ:LYFT)

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