Wedbush raised the firm’s price target on Lyft to $15 from $14 and keeps a Neutral rating on the shares. The firm notes Lyft reported healthy Q4 results with total bookings 1.4% above expectations and adjusted EBITDA $11M ahead of consensus. Importantly, management expects 2024 rides to grow mid-teens year-over-year and gross bookings to grow slightly faster driven by modest growth in bookings per ride, Wedbush adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on LYFT:
- Lyft Stock: What’s Behind the Volatile Move, Post Q4 Print?
- Lyft Enhances Transparency with Updated Investor Materials
- Options Volatility and Implied Earnings Moves Today, February 13, 2024
- Uber, Lyft to stage nationwide protest on February 14, Business Insider reports
- LYFT Earnings Report this Week: Is It a Buy, Ahead of Earnings?