Jim Cramer Had These 21 Stocks on His Radar

11. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 56

When a caller expressed that they are thinking of buying more of Lyft, Inc. (NASDAQ:LYFT) stock, Cramer commented:

“Look, I like David Risher. The stock’s just had a nice pop. I would not come in on top of this pop, I would let it come down. I think it just had too big a move, and I don’t like parabolic moves, but you nailed a good one. And if you’re up big, how about this? How about a little schnitzel, take some off, and then play with the house’s money.”

Lyft (NASDAQ:LYFT) runs a platform that connects riders with drivers for on-demand transportation and offers access to rental cars, bikes, and scooters for short-distance travel through its mobile app.

On May 21, Tigress Financial analyst Ivan Feinseth increased the price target on Lyft (NASDAQ:LYFT) to $28 from $26 and maintained a Buy rating. As per the analyst, the company had a strong start to the year and is growing its advertising efforts through Lyft Media. The firm also noted the company’s focus on geographic expansion, highlighting growth in car-dependent cities such as Indianapolis, where rides rose 37% in the first quarter.