Lyft (LYFT)


November 9, 2023

LYFT: Making Progress

By Steven Fox

We bump up 2023E and 2024E EBITDA for Lyft (LYFT; $10.72; E/W) from $190mm and $325mm to $210mm (1.5% of gross bookings, 4.5% of sales) and $350mm (2.3% of gross bookings, 7.0% of sales) after…

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November 8, 2023

LYFT: First Look at Q3 Results and Outlook

By Steven Fox

Lyft (LYFT; $10.72; E/W) reported Q3 sales of $1,158mm (+13% QoQ and +10% YoY), which was somewhat ahead of our $1,150mm and the Street’s $1,143mm. Adjusted EBITDA was $92mm (7.9% of sales), which was ahead…

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October 30, 2023

LYFT: Needs to Show Further Attention to Details

By Steven Fox

We assume Lyft’s (LYFT; $9.26; E/W) Q3 results and outlook, scheduled for Wednesday, November 8th (after market), are at least around near-term targets given recent travel indicators and executive leadership changes, which have emphasized rational…

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August 10, 2023

LYFT: More on the Ad Front

By Steven Fox

This morning, Lyft (LYFT; $10.85; E/W) disclosed in a blog post that its Media division (dedicated media and advertising business) is rolling out personalized ads across the Lyft ridershare app through a partnership with Rokt….

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August 9, 2023

LYFT: Producing Some Post-Restructuring Progress

By Steven Fox

We adjust our 2023E EBITDA forecasts for Lyft (LYFT; $11.56; E/W) from $233mm (5.6% of sales) to $190mm (4.4% of sales) after the company produced somewhat of a Q2 beat, albeit accompanied by some relatively…

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August 9, 2023

LYFT: Producing Some Post-Restructuring Progress

By Steven Fox

We adjust our 2023E EBITDA forecasts for Lyft (LYFT; $11.56; E/W) from $233mm (5.6% of sales) to $190mm (4.4% of sales) after the company produced somewhat of a Q2 beat, albeit accompanied by some relatively…

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August 8, 2023

LYFT: First Look at Q2 Results and Outlook

By Steven Fox

Lyft (LYFT; $11.56; E/W) reported Q2 sales of $1,021mm (+2% QoQ and +3% YoY), which compared to our $1,000mm and the Street’s $1,022mm. Adjusted EBITDA was a profit of $41mm (4.0% of sales), which was…

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July 24, 2023

LYFT: One Big Wild Card of a Q2 Print Coming

By Steven Fox

Lyft shares (LYFT; $11.67; E/W) are +35% since its post-Q1 results plunge on May 5th that left the Street with a lot more questions than answers as to how new CEO Risher plans to lower…

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May 31, 2023

LYFT: Support for a Multimodal Story

By Steven Fox

We reviewed Lyft’s (LYFT; $9.02; E/W) third annual Multimodal Report, which was published on Friday (5/26). The report provided a series of incremental proof points for the significant opportunity we still see for Lyft to…

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May 17, 2023

LYFT: And Now a New CFO

By Steven Fox

Last night, Lyft (LYFT; $8.24; E/W) announced CFO Elaine Paul, who just joined in January of last year, is now stepping down from her role effective Friday (5/19). This news does not come entirely as…

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May 8, 2023

LYFT: Starts Down the Restructuring Road

By Steven Fox

The shares of Lyft (LYFT; $8.63; E/W) sunk 19% on Friday after it provided another less than satisfying outlook as part of its first investor call since David Risher took over as CEO (“Founders Step…

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April 28, 2023

LYFT: Lots of Wild Cards Into Earnings

By Steven Fox

Frankly, it is hard to know what to fully expect when Lyft (LYFT; $10.20; E/W) hosts its Q1 call next Thursday (5/4 after market) given a recent CEO change (from co-founders to a Board member)…

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April 23, 2023

LYFT: Big Changes Coming from New CEO

By Steven Fox

On Friday (4/20), the shares of Lyft (LYFT; $10.44; E/W) traded up 6% after the company disclosed mid-day through a blog post from new CEO David Risher, aimed at the company’s employees, that it was…

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March 28, 2023

LYFT: Founders Step Down

By Steven Fox

Last night, Lyft (LYFT; $9.60; E/W) surprisingly announced that co-founders Logan Green (CEO) and John Zimmer (President) are stepping down from full-time executive management positions into non-executive roles as Chair and Vice Chair of the…

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March 1, 2023

LYFT: 10-K Tidbits

By Steven Fox

We reviewed Lyft’s (LYFT; $9.94; E/W) 10-K, which was filed on Monday (2/27). The document further highlighted how rising insurance costs and newly required reserve adjustments pressured the company’s cost of revenue and thus adjusted…

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