Lyft Competing In Lock-step With Uber Technologies: Analysts Eye 'Multiple Shots' On Goal For Growth
Portfolio Pulse from Nabaparna Bhattacharya
Lyft, Inc. (NASDAQ:LYFT) released its FY27 targets, projecting a 15% CAGR in gross bookings from 2024 to 2027. Analysts have mixed reactions, with some upgrading their ratings and price forecasts, while others remain cautious. Lyft is seen as competing closely with Uber Technologies, Inc. (NYSE:UBER) and benefiting from improving macro trends and cost efficiencies.
June 07, 2024 | 6:13 pm
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POSITIVE IMPACT
Lyft released its FY27 targets, projecting a 15% CAGR in gross bookings from 2024 to 2027. Analysts have mixed reactions, with some upgrading their ratings and price forecasts, while others remain cautious. Lyft is seen as competing closely with Uber and benefiting from improving macro trends and cost efficiencies.
The positive growth projections and mixed but generally optimistic analyst ratings suggest a likely short-term increase in LYFT's stock price. The company's focus on cost efficiencies and macro trends also supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lyft's FY27 targets and competitive positioning are seen as incrementally positive for Uber. Analysts note that Lyft's commentary highlights the attractive rideshare market opportunity, which remains underpenetrated.
Lyft's positive outlook and competitive stance are likely to benefit Uber as well, given the shared market dynamics and growth opportunities in the rideshare sector.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50