Lyft Stock Picks Up First "Sell" Rating

Seaport Global is skeptical that consumers will abandon cars for ride-sharing

Managing Editor
Apr 2, 2019 at 10:12 AM
facebook X logo linkedin

The run-up to the initial public offering (IPO) of Lyft Inc (NASDAQ:LYFT) was treated with much fanfare. The shares have gotten off to a rocky start, shedding 26% from their March 29 open at $87.24 to yesterday's close at $69.01. Today, LYFT stock hit a record low of $66.10 -- well below its $72 IPO price -- and was last seen down 1.3% to trade at $68.08.

Analysts are starting to chime in on LYFT. The stock received its first ever "sell" rating from Seaport Global earlier, which also set its price target at $42, a steep discount to current levels. The analyst in coverage thinks investors are taking a "big leap of faith" that ride-sharing services will be more appealing than car ownership. Elsewhere, Cross Research initiated coverage with a "buy."

This mixed analyst attention echoes the broader trend seen toward Lyft, with three brokerages rating the stock a tepid "hold," and two rating it a "buy" or better. Meanwhile, the security's consensus 12-month price target of $84 is now a 26% premium to its current perch, making LYFT already susceptible to a shift in analyst sentiment.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI