Lyft Stock: Buy, Sell, or Hold?
If you asked the professional analyst community about ride-sharing company Lyft (NASDAQ: LYFT), they'd collectively tell you that the stock has strong upside potential. As of this writing, the average price target from analysts is $18.69 per share, according to the 32 analysts tracked by TipRanks. That points to nearly 40% upside from where it trades, as of this writing.That said, the analyst community is often wrong. And I believe that it's wrong again when it comes to its price target for Lyft. But I don't mean that in the way that you might think.I don't believe that analysts are overestimating the potential of a Lyft investment today. To the contrary, I believe it has much higher upside potential than what it gets credit for, and I consequently believe that Lyft stock is a buy today.Continue reading
If you asked the professional analyst community about ride-sharing company Lyft (NASDAQ: LYFT), they'd collectively tell you that the stock has strong upside potential. As of this writing, the average price target from analysts is $18.69 per share, according to the 32 analysts tracked by TipRanks. That points to nearly 40% upside from where it trades, as of this writing.
That said, the analyst community is often wrong. And I believe that it's wrong again when it comes to its price target for Lyft. But I don't mean that in the way that you might think.
I don't believe that analysts are overestimating the potential of a Lyft investment today. To the contrary, I believe it has much higher upside potential than what it gets credit for, and I consequently believe that Lyft stock is a buy today.
