In a report released today, John Blackledge from TD Cowen maintained a Hold rating on Lyft (LYFT – Research Report), with a price target of $14.00.
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John Blackledge has given his Hold rating due to a combination of factors influencing Lyft’s financial outlook. One of the key considerations is the company’s Gross Bookings, which were slightly below consensus, indicating a constrained pricing environment towards the end of the quarter. Despite strong demand and record engagement from riders and drivers, the financial results were mixed, with EBITDA surpassing expectations due to cost management.
Looking forward, Lyft’s guidance for the first quarter of 2025 suggests Gross Bookings growth below consensus estimates while EBITDA falls within the expected range. The continuation of a lower pricing dynamic and the challenging comparison with the previous year’s metrics are also contributing factors. The adjusted price target reflects these elements, maintaining the Hold rating as the market navigates these cost and demand dynamics.
In another report released today, Barclays also maintained a Hold rating on the stock with a $19.00 price target.