BTIG analyst Jake Fuller has maintained their neutral stance on LYFT stock, giving a Hold rating on May 9.
Jake Fuller’s rating is based on several key observations regarding Lyft’s recent performance and market position. Despite Lyft meeting expectations for gross bookings and revenue, and exceeding EBITDA expectations, these results were achieved against a backdrop of low market expectations. Concerns about pricing pressure and mixed third-party data had previously raised doubts, but the in-line results have provided some relief.
Fuller notes that while Lyft’s valuation remains reasonable, there is a preference for larger-cap peers in the rideshare-delivery sector, particularly category leaders. Although Lyft’s competitive positioning has improved, fundamental concerns remain, particularly regarding its ability to meet long-term objectives and its perceived disadvantage in autonomous vehicles. Consequently, the decision to maintain a Hold rating reflects a cautious stance amidst these mixed signals.