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Investing.com - TD Cowen has reiterated its Buy rating and $30.00 price target on Lyft (NASDAQ:LYFT), maintaining its positive outlook on the rideshare company ahead of its third-quarter results. The stock has shown strong momentum, delivering an impressive 56% return year-to-date, according to InvestingPro data.
The firm estimates Lyft will report 10.7% year-over-year revenue growth for Q3 2025, slightly higher than the 10.6% growth seen in the previous quarter. TD Cowen projects total revenue of $1.69 billion, which is approximately 1% below consensus estimates. This follows Lyft’s strong performance, with revenue growing nearly 20% over the last twelve months to $6.1 billion.
The revenue acceleration is expected to be driven by a 16.5% year-over-year increase in gross bookings, with growth boosted by two months of contribution from the Freenow acquisition.
TD Cowen forecasts EBITDA of $136.3 million for the quarter, representing 27% year-over-year growth, which falls within Lyft’s guidance range of $125 million to $145 million and is slightly below the consensus estimate of $137.7 million.
The firm notes that investors will likely focus on rideshare demand trends heading into the fourth quarter and Lyft’s annual insurance renewals scheduled for October. Based on InvestingPro analysis, Lyft appears undervalued at current levels, with 12 additional exclusive ProTips available for subscribers, including detailed insights on the company’s financial health and growth prospects.
In other recent news, Lyft has been the focus of several analyst updates and strategic developments. The company has formed partnerships with autonomous vehicle companies Waymo and May Mobility, which Guggenheim highlighted in its initiation of coverage with a Buy rating and a $22 price target. Piper Sandler also raised its price target for Lyft to $28, maintaining an Overweight rating, following the announcement of Lyft’s partnership with Waymo for an autonomous vehicle roll-out in Nashville. Mizuho initiated coverage on Lyft with a Neutral rating and a $24 price target, noting Lyft’s effective cost management and ride growth.
TD Cowen increased its price target to $30, attributing the change to positive insurance reforms in California, while maintaining a Buy rating. KeyBanc reiterated its Sector Weight rating, citing Lyft’s improving execution and growth in market share, which led to raised gross bookings and EBITDA forecasts. These recent developments reflect a mix of strategic partnerships and financial adjustments, drawing varied responses from different analyst firms.
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