Uber saved the day for LYFT. While examining LYFT you have to consider where the stock would be if UBER had not come on the scene in may, Its IPO changed the sentiment of the investor and analysts community whom had the Knives out for LYFT from the minute the first share was traded. Rightly so to , the IPO was somewhat of a disaster and the anticlimax of the year so far, after all the company is burning money with no attention of changing that while in hyper growth mode.
Technically the chart is starting to become bullish as the stock has seemingly built a base since early May.
Currently looks poised to breakout from a channel with above $65 as a possible long, if volume improves and the market remains bullish.
AVERAGE ANALYSTS PRICE TARGET $53
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
COMPANY PROFILE
Uber Technologies, Inc. operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. The company was founded by Oscar Salazar Gaitan, Travis Kalanick, and Garrett Camp in 2009 and is headquartered in San Francisco, CA.
