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On Friday, Cantor Fitzgerald analyst Deepak Mathivanan increased the price target for Lyft (NASDAQ:LYFT) shares to $14.00, up from the previous $12.00, while keeping a Neutral rating on the stock. Currently trading at $15.73, InvestingPro analysis suggests the stock is approaching Fair Value territory, with analysts’ targets ranging from $10 to $26. This adjustment follows Lyft’s first-quarter results, which matched gross bookings projections and surpassed EBITDA expectations previously set by Wall Street.
Lyft’s guidance for the second quarter of 2025 estimates gross bookings growth of 10-14%. The company’s recent performance indicates a stable demand and pricing environment, with mid-teens growth in rides due to product enhancements. Lyft continues to innovate, introducing new features and tapping into additional usage scenarios.
The positive trends observed in the first quarter have led to increased confidence in Lyft’s medium-term outlook. As a result, Cantor Fitzgerald has revised its FY26E bookings projections upwards by 4%. Despite the improved outlook and raised price target, the firm maintains a Neutral stance on Lyft stock. The company has shown strong momentum with a 2.77% gain in the past week, though investors should note that 8 analysts have recently revised their earnings expectations downward. Get deeper insights and 12 more exclusive ProTips with a subscription to InvestingPro.
In other recent news, Lyft reported its Q1 2025 earnings, revealing a mixed financial performance. The company missed earnings per share (EPS) and revenue forecasts, with revenue coming in at $1.45 billion, $20 million below expectations, and EPS at $0.01, missing the forecast by $0.18. Despite these misses, Lyft’s stock saw a 7.69% rise in aftermarket trading, as investors reacted positively to strategic initiatives and future growth potential. Lyft announced an increase in its share repurchase authorization to $750 million, with plans to deploy $500 million towards buybacks over the next 12 months. Engine Capital withdrew its board nominees for Lyft after the company committed to significant share repurchases, signaling confidence in Lyft’s current management. Analyst Eric Sheridan from Goldman Sachs upgraded Lyft’s stock rating from Neutral to Buy, raising the target price to $20, citing strong growth in gross bookings and improved driver supply. Additionally, JPMorgan’s Doug Anmuth raised Lyft’s price target to $16 while maintaining a Neutral rating, noting record driver hours and growth in key markets. These recent developments indicate a strategic focus on shareholder value and market expansion.
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