Lyft Inc. (NASDAQ: LYFT) is scheduled to release its first-quarter financial results after the markets close on Tuesday. The consensus estimates are calling for a net loss of $1.81 per share and $739.48 million in revenue.
After the quiet period, analysts took the opportunity to issue calls on the ride-sharing firm. Most analysts had a surprisingly positive take on the stock, considering its recent trading history. Then again, most of the analysts coming out of this quiet period were underwriters for the initial public offering.
The IPO initially disappointed — and is still disappointing — investors, with shares currently trading well below the original pricing.
Credit Suisse initiated Lyft with an Outperform rating and a $95 price target. According to its report:
Ride sharing is tapping into a large and underpenetrated market and can help disrupt the $1.2 trillion spending theme, with a total addressable market in the near-to-medium term of about $745 billion. The firm sees an upside option from autonomous driving as well, helping consumers to make the choice to give up their cars that much easier and to further accelerate ride sharing adoption.
Excluding Tuesday’s move, Lyft had underperformed the broad markets, with its stock down about 23% since it came public.
A few other analysts weighed in on Lyft ahead of the report:
- Wedbush has a Hold rating with a $67 price target.
- Atlantic Securities has an Underweight rating and a $50 target.
- Jefferies has a Buy rating with an $86 target price.
- JMP Securities has an Outperform rating and a $78 price target.
- KeyCorp has a Sector Weight rating with a $67 target price.
- JPMorgan has an Overweight rating with an $82 price target.
Shares of Lyft were last seen up 0.5% at $60.90, in a post-IPO range of $54.32 to $88.60. The consensus price target is $75.56.
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
