LYFT Inc’s Quiet Period To Expire on May 8th (NASDAQ:LYFT)

LYFT’s (NASDAQ:LYFT) quiet period will end on Wednesday, May 8th. LYFT had issued 32,500,000 shares in its public offering on March 29th. The total size of the offering was $2,340,000,000 based on an initial share price of $72.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

LYFT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Canaccord Genuity initiated coverage on shares of LYFT in a report on Tuesday, April 23rd. They issued a “buy” rating and a $75.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of LYFT in a report on Tuesday, April 23rd. They issued a “buy” rating and a $68.00 price target on the stock. UBS Group started coverage on shares of LYFT in a report on Tuesday, April 23rd. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Cross Research started coverage on LYFT in a research report on Tuesday, April 2nd. They set a “buy” rating and a $69.01 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.51.

Shares of LYFT traded down $1.81 during trading hours on Friday, hitting $53.79. The company had a trading volume of 4,017,330 shares, compared to its average volume of 11,308,021. LYFT has a 52-week low of $47.17 and a 52-week high of $88.60.

In other LYFT news, Director R. Ann Miura-Ko bought 1,650 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of $72.00 per share, with a total value of $118,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of large investors have recently modified their holdings of the business. Cypress Wealth Advisors LLC purchased a new position in LYFT in the 1st quarter worth about $2,443,000. Canyon Capital Advisors LLC purchased a new position in LYFT in the 1st quarter worth about $3,132,000. Gilder Gagnon Howe & Co. LLC purchased a new position in LYFT in the 1st quarter worth about $42,175,000. FMR LLC purchased a new position in LYFT in the 1st quarter worth about $1,451,179,000. Finally, BlueMountain Capital Management LLC purchased a new position in LYFT in the 1st quarter worth about $3,915,000. 1.66% of the stock is owned by institutional investors and hedge funds.

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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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