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. (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.

Overall, LYFT ranks 11th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of LYFT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LYFT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.