Still, Wall Street analysts are largely bullish on the company. The company has a consensus price target of $66.62, roughly 24% higher than where shares closed on Monday. Lyft also has 29 „buy“ ratings, nine „hold“ ratings, and one „sell“ rating, according to Bloomberg data.
Here’s what five Wall Street analysts had to say about Lyft ahead of its Tuesday earnings release, in order of lowest to highest price target:Price target: NoneLyft is „basking in the Uber glow,“ wrote Brian White of Monness Crespi Hardt in a note Monday, following Uber’s rosy earnings that also lifted Lyft’s shares. Still, Uber’s report last week raised the bar for Lyft, he said.
„Although Lyft’s stock has proven a disappointment since its IPO, the company has executed well on its quarterly results as a public company and we believe Lyft’s focused strategy is not a competitive advantage,“ he said.Foto: Fiat 500 painted pink and carrying a Lyft logo is parked in the streets of Manhattan.
He maintained his buy rating on the stock, but said that the bank continues „to see Uber as a better long-term story“ given its market share, food delivery business, global addressable market, and minority investments abroad. „We think there is room for two players and the market and both can see more rapid moves toward profitability,“ he wrote.
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