Why Lyft Stock Fell Today
Portfolio Pulse from Ryan Gustafson
Lyft shares fell over 9% after the company reported Q2 earnings and issued guidance. Q2 sales were $1.02 billion, a 3.05% increase YoY, meeting analyst consensus. Q3 revenue is expected between $1.13 billion and $1.15 billion, above the $1.09 billion estimate. Several analysts updated their price targets on the stock, with mixed adjustments.
August 09, 2023 | 6:58 pm
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Lyft's stock fell after Q2 earnings met expectations and Q3 guidance exceeded estimates. Analysts' mixed adjustments to price targets also influenced the stock's movement.
Lyft's stock fell despite meeting Q2 earnings expectations and providing a higher Q3 guidance. This could be due to mixed reactions from analysts, with some lowering and others raising their price targets. The market may be reacting to the uncertainty reflected in these mixed signals.
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