Lyft (LYFT) Stock Falls 6% Despite Strong Q4 Revenue
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Go back to Lyft (LYFT) Stock Falls 6% Despite Strong Q4 Revenue
February 9, 2022 6:23 AM EST
Susquehanna analyst Shyam Patil lowered the price target on Lyft (NASDAQ: LYFT) to $54.00 (from $80.00) while maintaining a Positive rating following results.
The analyst commented, "Omicron has unsurprisingly impacted ridesharing demand, driving the 1Q guide below expectations. However, LYFT is still cautiously optimistic that... More
February 8, 2022 4:48 PM EST
Uber (NYSE: UBER) Trades Lower in Sympathy with Lyft (NASDAQ: LYFT) Following Lyft Results
Lyft Down 6.3%Uber Down 1.75%...
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February 8, 2022 4:17 PM EST
By Tina Bellon and Nivedita Balu
(Reuters) -Lyft Inc's first full-year adjusted profit and a spike in pricey airport trips were overshadowed by a drop in ridership due to Omicron, which management on Tuesday warned would persist into the first quarter and drag down profit.
The projected hit to first-quarter revenue and profit sparked a 6% drop in Lyft shares in after-hours trading. Shares of larger rival Uber Technologies Inc, which reports results on Wednesday, dropped 1.3%.
Lyft said it expected first-quarter revenue of between $800 million and $850 million, a decline of up to $170 million compared with the last... More
February 8, 2022 4:08 PM EST
Lyft (NASDAQ: LYFT) reported Q4 revenue of $969.9 million versus the consensus estimate of $939.06 million.
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