Wolfe Research Reiterates Peerperform Rating on Lyft (LYFT)
Wolfe Research analyst Shweat Khajuria reiterated a Peerperform rating on Lyft (NASDAQ: LYFT).
The analyst comments "We remain constructive into the print. Lyft will report on February 11th after the close. Lyft has come in above the high-end of the company’s Bookings guide for three of the last four quarters and above the high-end of its EBITDA guide for each of the last 12 quarters. LYFT shares have underperformed the S&P 500 by 20.5-pts and the Nasdaq by 21-pts since the company’s last EPS print on November 6th. We expect Lyft to provide 2025 guidance/color commentary on FY expectations. We also expect DoorDash partnership + price lock to have a positive impact in Q1 modestly offset by headwinds from LA fires. For FY'25, we don't expect the loss of Delta partnership as a meaningful headwind to Lyft's P&L (our note here). Our estimates imply Q4 Bookings growth of 16.9% vs. the Street at 15.7% Y/Y and EBITDA margin of 2.4%, in line with the Street, implying expansion of 61bps Y/Y."
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Shares of Lyft closed at $14.16 yesterday.