Lyft's Q2 Earnings Impress, But Q4 Expectations Worry Analysts
Portfolio Pulse from Priya Nigam
Lyft Inc's Q2 earnings beat expectations, leading to a rise in Q3 guidance. However, analysts are concerned about Q4 due to the company's insurance renewal which is expected to heavily impact margins. Despite this, Lyft's pricing and driver supply are improving, and ride growth has rebounded. Analysts from RBC Capital Markets, Susquehanna, and Needham have maintained neutral ratings on the stock, with price targets ranging from $9 to $12.
August 09, 2023 | 3:59 pm
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Lyft's Q2 earnings beat expectations but Q4 is a concern due to insurance renewal. Analysts maintain neutral ratings with price targets between $9-$12.
Lyft's Q2 earnings were better than expected, leading to a rise in Q3 guidance. However, the company's insurance renewal in Q4 is expected to heavily impact margins, causing concern among analysts. This has led to a neutral rating on the stock, indicating that it may not perform as well in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100