LYFT (NASDAQ:LYFT) had its price target cut by equities research analysts at Seaport Global Securities from $42.00 to $35.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “sell” rating on the ride-sharing company’s stock. Seaport Global Securities’ target price would indicate a potential downside of 30.61% from the company’s current price.

LYFT has been the topic of several other research reports. Cross Research assumed coverage on shares of LYFT in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $69.01 target price on the stock. Stifel Nicolaus assumed coverage on shares of LYFT in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $68.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of LYFT in a research note on Tuesday, April 23rd. They issued an “overweight” rating and a $82.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of LYFT in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Tigress Financial assumed coverage on shares of LYFT in a research note on Tuesday, April 30th. They issued a “buy” rating and a $59.80 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $71.66.

NASDAQ:LYFT traded up $2.29 during mid-day trading on Tuesday, reaching $50.44. 6,582,292 shares of the company were exchanged, compared to its average volume of 11,937,630. LYFT has a 12 month low of $47.17 and a 12 month high of $88.60.

In related news, Director R. Ann Miura-Ko bought 1,650 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A number of hedge funds have recently made changes to their positions in the business. Pinnacle Financial Partners Inc. acquired a new stake in LYFT during the 1st quarter worth approximately $27,000. US Bancorp DE acquired a new stake in LYFT during the 1st quarter worth approximately $37,000. Hartford Financial Management Inc. acquired a new stake in LYFT during the 1st quarter worth approximately $39,000. Parkside Financial Bank & Trust acquired a new stake in LYFT during the 1st quarter worth approximately $48,000. Finally, Citigroup Inc. acquired a new stake in LYFT during the 1st quarter worth approximately $95,000. Hedge funds and other institutional investors own 0.34% of the company’s stock.

LYFT Company Profile

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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The Fly

Analyst Recommendations for LYFT (NASDAQ:LYFT)

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