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Investing.com - Cantor Fitzgerald raised its price target on Lyft (NASDAQ:LYFT) to $25.00 from $19.00 on Thursday, while maintaining a Neutral rating on the ride-sharing company.
The price target adjustment follows Lyft’s third-quarter results, which showed gross bookings and EBITDA near the high end of the company’s previous guidance range. Rides growth reached 15% compared to 14% in the second quarter, partly boosted by contributions from the FREENOW acquisition.
Lyft’s fourth-quarter guidance projects gross bookings growth of 20% at the high end, driven by healthy trends in its core U.S. business and a full quarter of contribution from FREENOW. The company also indicated preliminary expectations for further acceleration in core North American bookings in 2026.
Cantor Fitzgerald noted that Lyft is making steady progress on key strategic priorities, which is helping the company achieve stable growth in its U.S. rideshare business. The firm raised its fiscal year 2026 estimates for bookings by 3% and EBITDA by 14%.
Looking ahead to 2026, Cantor Fitzgerald highlighted several growth drivers for Lyft, including new partnerships with United Airlines, geographic and use case expansion, and insurance tailwinds in California.
In other recent news, Lyft’s third-quarter 2025 earnings report revealed mixed results, with the company missing analyst expectations for earnings per share (EPS). Lyft reported an EPS of $0.11, significantly lower than the forecasted $0.28, marking a 60.71% miss. Despite this shortfall, the company achieved record performance across several operating metrics, as noted by Goldman Sachs, which raised its price target for Lyft to $26 while maintaining a Buy rating. The investment bank highlighted mid-teens percentage growth in ride volume due to a balanced marketplace between driver supply and rider demand.
Additionally, BMO Capital adjusted its price target for Lyft to $23 from $20, maintaining a Market Perform rating. This adjustment followed Lyft’s third-quarter results, where bookings slightly exceeded BMO and Street estimates, but revenue fell short by 3% and 1%, respectively. Lyft’s Adjusted EBITDA of $138 million was in line with both BMO and consensus estimates. These recent developments reflect a complex picture for Lyft, with analysts weighing the company’s operational successes against its earnings challenges.
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