Stifel Nicolaus Maintains a Buy Rating on Lyft Inc (LYFT)

By Jason Carr

In a report released today, Scott Devitt from Stifel Nicolaus maintained a Buy rating on Lyft Inc (LYFTResearch Report), with a price target of $80. The company’s shares closed yesterday at $60.29.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.9% and a 66.8% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies Inc, and Eventbrite Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lyft Inc with a $71.65 average price target, representing a 18.8% upside. In a report released today, SunTrust Robinson also reiterated a Buy rating on the stock with a $75 price target.

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The company has a one-year high of $88.60 and a one-year low of $47.17. Currently, Lyft Inc has an average volume of 4.06M.

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Lyft, Inc. operates as an online social rideshare community platform. It helps commuters to share rides with friends, classmates, and co-workers going the same way. The company was founded by Marcus Cohn, John Zimmer, Rajat Suri, Matt van Horn, and Logan Green in June 2012 and is headquartered in San Francisco, CA.