Why Lyft's Stock Is Trading Lower Today

Lyft Inc LYFT shares are trading lower on Monday after getting a downgrade.

Stifel downgraded the company's stock from Buy to Hold and lowered its price target from $38 to $35.

Lyft is the second largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft offers rides via private vehicles, including traditional private rides, shared rides and luxury ones.

Lyft shares were trading down 5.2% at $31.01 in Monday’s session. The stock has a 52-week high of $68.33 and a 52-week low of $14.56.

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