Lyft (LYFT)

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…

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…

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…

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…

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…

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…

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)…

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…

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…

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…

We reduce our rating on Lyft shares (LYFT; $16.22) from Outperform to Equal-Weight after Q1E guidance disappointed the Street and management backed off prior 2024E EBITDA targets of $1B, established just two quarters ago, that…

Lyft (LYFT; $16.22; O/P) reported Q4 sales of $1,175mm (+12% QoQ and +21% YoY), which was ahead of our $1,155mm and the Street’s $1,154mm. Adjusted EBITDA was a loss of ($248mm) after the company revised…

Last Thursday (2/2), TechCrunch reported that Lyft (LYFT; $17.43; O/P) is planning to unveil a next-generation dockable e-scooter along with new docking stations, which it reported is planned to start rolling out later this month….

Lyft shares (LYFT; $16.30; O/P) still look attractive to us ahead of its Q4 results and outlook, scheduled for next Thursday (2/9 after market), even after considering a recent 48% YTD rally to 1.0X 2023E…

We still see favorable risk/reward around the shares of Lyft (LYFT; $11.94; O/P), especially with tax loss selling season in the rear-view mirror and current valuations even after the stock’s 7% jump last week (e.g.,…