LYFT Inc (LYFT)

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Lyft (NASDAQ:LYFT) Price Target Raised to $58.00
By: MarketBeat | December 22, 2020

Lyft (NASDAQ:LYFT) had its price target increased by investment analysts at DA Davidson from $42.00 to $58.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a "buy" rating on the ride-sharing company's stock. DA Davidson's price objective would suggest a potential upside of 17.10% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Piper Sandler upgraded Lyft from a "neutral" rating to an "overweight" rating and upped their price target for the company from $39.00 to $61.00 in a research report on Monday, December 7th. Zacks Investment Research upgraded Lyft from a "sell" rating to a "hold" rating and set a $40.00 price target on the stock in a research report on Wednesday, December 9th. Needham & Company LLC upped their price target on Lyft from $41.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, December 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Lyft from $49.00 to $60.00 in a research report on Thursday, December 3rd. Finally, Truist reduced their price target on Lyft from $49.00 to $44.00 in a research report on Tuesday, November 10th. Twelve research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of "Buy" and an average price target of $49.17.

LYFT stock traded down $0.38 during midday trading on Tuesday, reaching $49.53. 115,457 shares of the stock were exchanged, compared to its average volume of 9,870,962. The stock has a market capitalization of $15.73 billion, a PE ratio of -9.29 and a beta of 2.27. Lyft has a 52 week low of $14.56 and a 52 week high of $54.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 1.35. The company has a fifty day moving average price of $40.13 and a 200 day moving average price of $32.54.

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