Why Lyft Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
Lyft, Inc. (NASDAQ:LYFT) shares are trading higher after the company provided optimistic 2027 financial targets ahead of its Investor Day. The company anticipates a 15% CAGR in gross bookings from 2024 to 2027, a 4% Adjusted EBITDA margin in 2027, and a free cash flow conversion rate exceeding 90% annually from 2025 to 2027. Lyft also maintains its previously announced outlook for the second quarter and 2024.
June 06, 2024 | 4:17 pm
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Lyft shares are trading higher after the company provided optimistic 2027 financial targets, including a 15% CAGR in gross bookings, a 4% Adjusted EBITDA margin, and a free cash flow conversion rate exceeding 90% annually from 2025 to 2027.
The announcement of optimistic long-term financial targets, including significant growth in gross bookings and improved margins, is likely to boost investor confidence and positively impact Lyft's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100