:max_bytes(150000):strip_icc()/GettyImages-1998057571-216eef56dab54d0c9c9ced95c67b5e83.jpg "Lyft Tumbles on Disappointing Outlook; JPM Lowers Value Goal")
KEY TAKEAWAYS
Stocks in Lyft are tumbling Wednesday, after the ride-hailing corporate projected first-quarter bookings that lagged estimates as a price competition with rival Uber Applied sciences persists.The ride-hailing corporate stated it anticipated first-quarter gross bookings of round $4.05 billion to $4.2 billion “amidst the new pricing setting within the U.S. marketplace.” In a word Wednesday, JPMorgan analysts reduced their value goal for Lyft to $16 from $19, announcing that it believed Lyft “is going through an an increasing number of aggressive rideshare panorama.”
Stocks in Lyft (LYFT) are tumbling Wednesday, after the ride-hailing corporate projected first-quarter bookings that lagged estimates as a price competition with rival Uber Applied sciences (UBER) persists.
The ride-hailing corporate stated it anticipated first-quarter gross bookings of round $4.05 billion to $4.2 billion “amidst the new pricing setting within the U.S. marketplace.” That when compared with consensus estimates from analysts polled by way of Visual Alpha earlier than the consequences had been launched of $4.23 billion.
Uber additionally just lately reported a current-quarter gross bookings outlook got here in most commonly beneath analysts’ estimates.
JPM Lowers Value Goal on Lyft to $16
Lyft’s effects come because the lack of its partnership with Delta Air Strains (DAL) looms over the corporate this spring.
In a word Wednesday, JPMorgan analysts reduced their value goal for Lyft to $16 from $19, announcing that it believed Lyft “is going through an an increasing number of aggressive rideshare panorama.” The analysts stated they be expecting Lyft effects to be “stressed” in the course of the first part of 2025 and the corporate must conquer the lack of the Delta partnership “which additionally calls into query the facility to develop GBs (gross bookings) within the mid-teens yearly thru 2027.”
Lyft reported combined fourth-quarter effects Tuesday, with earnings of $1.55 billion lagging estimates, whilst its adjusted profits according to proportion (EPS) of 27 cents beat forecasts.
Lyft stocks are down round 11% Wednesday at about $12.75 every and feature edged up 2% previously 12 months.
UPDATE—Feb. 12, 2025: This text has been up to date to incorporate refreshed proportion costs.
/wion/media/media_files/2025/03/30/B1xgUHuPTxMh8iNXB0N4.png "Spider eggs on Mars? NASA scientists spot unusual, mysterious object on Purple Planet – see close-up symbol")
