After J.P. Morgan and Fox Advisors gave Lyft (NASDAQ: LYFT) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Brad Erickson maintained a Buy rating on Lyft yesterday and set a price target of $65.00. The company’s shares closed last Thursday at $43.60.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 30.0% and a 52.7% success rate. Erickson covers the Technology sector, focusing on stocks such as Zillow Group Class A, Fiverr International, and Uber Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lyft with a $69.18 average price target.
The company has a one-year high of $68.28 and a one-year low of $36.25. Currently, Lyft has an average volume of 5.96M.
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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.
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