Lyft price target lowered to $60 from $82 at Tigress Financial » 09:4608/1208/12/22
Tigress Financial analyst…
Tigress Financial analyst Ivan Feinseth lowered the firm's 12-month price target on Lyft to $60 from $82 and reiterates a Buy rating on the shares. His price target adjustment accounts for a near-term re-rating of valuation, but he contends that the ongoing post-pandemic travel recovery and improving operating leverage give Lyft a "clearer path to profitability." His revised target represents a potential return of over 200% from current levels, Feinseth noted.
Lyft launches Lyft Media division » 11:4908/0808/08/22
In a blog post, Lyft…
In a blog post, Lyft announced Lyft Media, a media and advertising business. The company said, "As more people resume their daily travel, we've built a suite of new products to allow advertisers to engage with this growing audience throughout their transportation journeys...Lyft Halos are smart digital rooftop screens that capture attention with engaging videos targeted to the vehicle's exact location and time. Brands can reach mass audiences at the specific times and places most relevant to their business, and track the performance of their campaigns through our attribution partners...These rooftop screens are available in New York City, Los Angeles, and Washington D.C., with more cities coming soon...Lyft's in-car tablets are seamlessly integrated with the rideshare experience. Riders can track progress along their route, rate and tip drivers, and control the music of their ride through our partnership with iHeartRadio - all directly from the tablet. Brands can serve dynamic content to a highly engaged rideshare audience for the duration of the ride...We're expanding in-car tablets in Los Angeles, Chicago, San Francisco, and Washington D.C. We plan to have tablets present in 25% of all rides on the Lyft platform in these markets, reaching millions of riders by the end of the year...Lyft operates the largest bikeshare network in the country... With stations located throughout our cities, our bikeshare station ad panels and docks provide incredible street-level media opportunities at highly-trafficked locations in each city. As we continue to roll out our next-gen e-bikes, we will also be upgrading our stations to include digital ad panels...Lyft Skins allows advertisers to engage the rideshare audience with our most powerful digital channel - the Lyft App itself. Brands can reach our almost 20 million active riders with a customizable branded icon and banner." Reference Link
Lyft price target lowered to $23 from $25 at Susquehanna » 09:1608/0808/08/22
Susquehanna analyst Shyam…
Susquehanna analyst Shyam Patil lowered the firm's price target on Lyft to $23 from $25 and keeps a Neutral rating on the shares. The analyst said the company was able to clear a low bar in 2Q, but the macro continues to be a challenge, driving the 3Q guidance below. The company did provide bullish 2024 targets in EBITDA and in FCF, demonstrating management's confidence in the profitability ramp. However, he remains on the sidelines given the likely turbulent near-term.
Lyft price target raised to $20 from $16 at Deutsche Bank » 07:5808/0808/08/22
Deutsche Bank analyst…
Deutsche Bank analyst Benjamin Black raised the firm's price target on Lyft to $20 from $16 and keeps a Hold rating on the shares. The company posted a strong Q2 margin and EBITDA beat, with revenue growth hitting the top-end of guidance, Black tells investors in a research note. The EBITDA outperformance was driven by strict cost discipline, and importantly, driver incentive investments were lower than expected, says the analyst.
Lyft price target lowered to $42 from $47 at Wells Fargo » 06:4408/0808/08/22
Wells Fargo analyst Brian…
Wells Fargo analyst Brian Fitzgerald lowered the firm's price target on Lyft to $42 from $47 and keeps an Overweight rating on the shares following quarterly results. Platform engagement and health metrics continue to trend positively as demand rebounds on the back of the broader travel recovery and more drivers join the platform, the analyst notes. Given the first half of the year actuals and the Q3 outlook, management expects 2022 revenue growth will be slower than the 36% achieved in 2021, Fitzgerald adds.
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Lyft price target lowered to $25 from $32 at Wedbush » 07:3608/0508/05/22
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives lowered the firm's price target on Lyft to $25 from $32 and keeps an Outperform rating on the shares. Lyft's June quarter was "solid," with beats on the top and bottom lines, headlined by an "impressive" EBITDA performance and "solid" September guidance, Ives tells investors in a research note. The June quarter was the step in the right direction as the company's demand story and ridesharing rebound is front and center as the economy continues to reopen and Lyft shifts to the next stage of growth, Ives contends.
Lyft price target raised to $19 from $18 at Stifel » 07:2508/0508/05/22
Stifel analyst Scott…
Stifel analyst Scott Devitt raised the firm's price target on Lyft to $19 from $18 and keeps a Hold rating on the shares after the company reported mixed Q2 results and guided to Q3 revenue growth and adjusted EBITDA margins below prior consensus expectations. He believes the company is taking a more disciplined approach in balancing growth and profitability and is "moderately adjusting" his estimates following the report, yielding his new target.
Lyft price target lowered to $57 from $65 at Citi » 06:5008/0508/05/22
Citi analyst Itay…
Citi analyst Itay Michaeli lowered the firm's price target on Lyft to $57 from $65 and keeps a Buy rating on the shares. The company reported a "mixed but overall encouraging" set of results given the macro backdrop, Michaeli tells investors in a research note. He dropped the price target to reflect a modestly slower top-line growth trajectory but finds the stock's risk/reward "compelling" at current levels.
Lyft price target lowered to $46 from $50 at Credit Suisse » 06:4908/0508/05/22
Credit Suisse analyst…
Credit Suisse analyst Stephen Ju lowered the firm's price target on Lyft to $46 from $50 and keeps an Outperform rating on the shares following the Q2 earnings report. It is more apparent that elevated driver incentives will prove transitory rather than a structural shift following the report, Ju tells investors in a research note. The analyst sees upside potential longer-term to generate ongoing operating leverage as the U.S. ride share sector remains a rational duopoly.
Lyft price target lowered to $20 from $32 at Barclays » 05:4608/0508/05/22
Barclays analyst Ross…
Barclays analyst Ross Sandler lowered the firm's price target on Lyft to $20 from $32 and keeps an Equal Weight rating on the shares post the Q2 results. The company's optimistic tone was somewhat overshadowed by a number of accounting changes and add backs, Sandler tells investors in a research note.