RBC Capital analyst Mark Mahaney raised the price target on Lyft (NASDAQ: LYFT) to $82.00 (from $76.00) while maintaining an Outperform rating.

The analyst commented, "Lyft reported Beat & Raise Q3 results. Q3 Revenue $956MM, +63% Y/Y and EBITDA losses ($128MM) nicely beat Street expectations, and LYFT raised Q4 Revenue & EBITDA guidance. Further product innovation and improving market conditions should continue to support robust Revenue growth with a clearly improving path to profitability. Estimates raised. PT to $82 from $76. Reiterate Outperform. Lyft will be @ our November TIMT Conference."

Analyst Comments Analyst EPS View Analyst PT Change

Lyft (LYFT) Reports Beat and Raise Quarter, PT Trimmed to $78 at UBSOctober 31, 2019 6:22 AM Lyft (LYFT) PT Lowered to $51 at BarclaysOctober 31, 2019 4:45 AM Lyft sees 'path to profitability' as riders, revenues increaseOctober 30, 2019 4:20 PM Form 8-K Lyft, Inc. For: Oct 30October 30, 2019 4:10 PM Lyft (LYFT) Tops Q3 EPS by 9c, Revs Beat; Raises OutlookOctober 30, 2019 4:09 PM Lyft Announces Record Third Quarter ResultsOctober 30, 2019 4:06 PM