Needham Stick to Their Buy Rating for Lyft Inc

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Needham analyst Brad Erickson maintained a Buy rating on Lyft Inc (NASDAQ:LYFT) on Thursday, setting a price target of $41, which is approximately 37.26% above the present share price of $29.87.

Erickson expects Lyft Inc to post earnings per share (EPS) of -$1.41 for the third quarter of 2020.

The current consensus among 22 TipRanks analysts is for a Moderate Buy rating of shares in Lyft, with an average price target of $42.37.
The analysts price targets range from a high of $66 to a low of $30.

In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $339.35 million and a net profit of -$487.5 million. The company’s market cap is $9.32 billion.

According to TipRanks.com, Needham analyst Brad Erickson is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 20.1% and a 55.56% success rate.

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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