J.P. Morgan analyst Doug Anmuth has maintained their neutral stance on LYFT stock, giving a Hold rating today.
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Doug Anmuth has given his Hold rating due to a combination of factors influencing Lyft’s current and future performance. While Lyft has shown strong execution with record highs in gross bookings, adjusted EBITDA, and free cash flow, the company is still dealing with the impact of losing its partnership with Delta. However, the new partnership with United Airlines, set to launch in late 2025, may help offset this loss over the long term.
Despite these positive developments, Lyft faces challenges such as potential market share loss to competitors like Waymo in key regions and lagging behind Uber in autonomous vehicle partnerships. Anmuth remains cautious, preferring to see consistent performance and margin improvements over the coming quarters. The established price target of $16 reflects a conservative valuation compared to Lyft’s peers, given the need for continued sound execution and the company’s current position in the market.
In another report released today, Barclays also maintained a Hold rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYFT in relation to earlier this year.