Lyft Enjoys ‘Continued Momentum’: 3 Analysts Examine Q1 Earnings, Outlook Ahead Of Investor Day
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Shares of Lyft Inc (NASDAQ:LYFT) were climbing in early trading on Wednesday, after the company reported its first-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- JPMorgan analyst Doug Anmuth reaffirmed a Neutral rating while lifting the price target from $13 to $18.
- Goldman Sachs analyst Eric Sheridan maintained a Neutral rating, while raising the price target from $16 to $19.
- Needham analyst Bernie McTernan reiterated a Hold rating on the stock.
Check out other analyst stock ratings.
JPMorgan: Lyft reported over 20% growth in rides and gross bookings, along with revenue growth of 28% and free cash flows (FCF) of $127 million, Anmuth said. “We believe Lyft is generating stronger results led by its customer obsession around both Drivers & Riders, along w/a healthy backdrop for driver supply,” he added.
“While the Investor Day is still a month away, our …
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