Jim Cramer Says to Take Profits on Lyft (LYFT) After Big Jump

We recently published a list of Jim Cramer Had These 21 Stocks on His Radar. In this article, we are going to take a look at where Lyft, Inc. (NASDAQ:LYFT) stands against other stocks that Jim Cramer discusses.

When a caller expressed that they are thinking of buying more of Lyft, Inc. 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 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.

A ridesharing passenger and driver in a car, looking out the window in anticipation of their destination.

On May 21, Tigress Financial analyst Ivan Feinseth increased the price target on 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.

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This article is originally published at Insider Monkey.