Shares of Lyft Inc (NASDAQ:LYFT) rose in early trading on Thursday, after the company reported upbeat second-quarter earnings on Wednesday.
Here are some key analyst takeaways.
- JPMorgan analyst Doug Anmuth maintained a Neutral rating and price target of $16.
- Needham analyst Bernie McTernan reiterated a Hold rating on the stock.
Check out other analyst stock ratings.
JPMorgan: Lyft reported second-quarter gross bookings of $4.5 billion, up 12% year-on-year and in-line with the mid-point of the guidance range, Anmuth said. Management indicated that pricing had remained sequentially flat in the second quarter due to "mix-shift to Canada and under-penetrated markets," he added.
Lyft's third-quarter gross booking guidance range of $4.65-$4.8 billion reflects 13%-17% year-on-year growth and includes two months of contribution from the recently closed FREENOW acquisition, the analyst stated. "Lyft also highlighted that markets with AV are growing 5x faster than rideshare markets without AV, and indicated that AV are driving incremental demand and expanding overall TAM for the rideshare industry," he further wrote.
Needham: Lyft is likely to generate low double-digit growth in bookings in the third and fourth quarters, similar to its performance in the second quarter, McTernan said. The company indicated that FreeNow will add less than $1 billion in bookings and be roughly neutral for adjusted EBITDA, he added.
The analyst raised the bookings estimate for 2026 by around $1 billion. "We continue to appreciate how LYFT is differentiating on the customer experience with new products and focusing on underpenetrated markets," he further wrote.
LYFT Price Action: Shares of Lyft had risen by over 1.3% to $14.18 at the time of publication on Thursday.
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