On Nov 08, major Wall Street analysts update their ratings for $Lyft Inc (LYFT.US)$, with price targets ranging from $16 to $23.
Morgan Stanley analyst Brian Nowak maintains with a hold rating, and adjusts the target price from $16.5 to $18.
Goldman Sachs analyst Eric Sheridan maintains with a hold rating, and sets the target price at $20.
Barclays analyst Ross Sandler maintains with a hold rating, and maintains the target price at $20.
UBS analyst Stephen Ju maintains with a hold rating, and adjusts the target price from $12 to $18.
Wells Fargo analyst Ken Gawrelski maintains with a hold rating, and adjusts the target price from $12 to $17.
Furthermore, according to the comprehensive report, the opinions of $Lyft Inc (LYFT.US)$'s main analysts recently are as follows:
Lyft's unexpected increase in free cash flow during Q3 was partially due to an insurance mix and underlying margin improvement. The company's core metrics largely met expectations, displaying steady growth trends in ride-hailing activities during the second half of the year, which contrasts with Uber's performance.
Lyft's recent financial outcomes, which surpassed Street forecasts, demonstrated strong performance in bookings, revenue, and EBITDA. Their guidance for the upcoming quarter suggests bookings that exceed previous market expectations, coupled with EBITDA projections that are significantly higher than forecasted by analysts.
Lyft has shown profitable growth, which is reflected in better-than-expected bookings for Q3/Q4. This, along with operational efficiencies and expenditure discipline, has resulted in strong EBITDA performance.
The firm noted that Lyft's Q3 revenue exceeded expectations by 6%, spurred by robust demand and a record number of rides, while EBITDA surpassed consensus estimates by 14%, indicating efficiency in incentives.
The company's Q3 Bookings growth of 16% surpassed projections, bolstered by its Canadian expansion and back-to-school activations that were more robust than anticipated. While these figures did exceed forecasts, there remains a need for more substantial evidence of the longevity of these trends and the implications of the partnership with a peer company, which is anticipated to bear fruit in the latter half of FY25.
Here are the latest investment ratings and price targets for $Lyft Inc (LYFT.US)$ from 19 analysts:
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