LYFT (LYFT) Trading Down 6.3%

LYFT Inc (NASDAQ:LYFT) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $55.56 and last traded at $56.11. 14,316,605 shares changed hands during trading, a decline of 14% from the average session volume of 16,554,809 shares. The stock had previously closed at $59.90.

A number of equities analysts recently weighed in on LYFT shares. Northcoast Research started coverage on shares of LYFT in a research note on Wednesday, March 27th. They set a “neutral” rating for the company. Consumer Edge started coverage on shares of LYFT in a research note on Monday, April 1st. They set a “neutral” rating and a $73.00 target price for the company. Seaport Global Securities started coverage on shares of LYFT in a research note on Tuesday, April 2nd. They set a “sell” rating for the company. Susquehanna Bancshares started coverage on shares of LYFT in a research note on Wednesday. They set a “neutral” rating and a $57.00 target price for the company. Finally, HSBC started coverage on shares of LYFT in a research note on Thursday, April 11th. They set a “hold” rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.00.

In related news, Director R. Ann Miura-Ko acquired 1,650 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a filing with the SEC, which is available at this link.

An institutional investor recently bought a new position in LYFT stock. Calamos Advisors LLC acquired a new stake in shares of LYFT Inc (NASDAQ:LYFT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the ridesharing company’s stock, valued at approximately $1,174,000.

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About LYFT (NASDAQ: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.

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