Lyft Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Lyft, Inc. LYFT is expected to release earnings results for its fourth quarter, after the closing bell on Feb. 13, 2024.

Analysts expect the company to report quarterly earnings at 8 cents per share, down from year-ago earnings of 29 cents per share. The company is projected to post revenue of $1.22 billion for the latest quarter, compared to $1.18 billion in the year-earlier quarter, according to data from Benzinga Pro.

Lyft, during November, reported third-quarter loss of 3 cents per share, well below the analyst consensus estimate of 13 cents, a 130% decrease over earnings of 10 cents per share from the same period last year. The company reported quarterly sales of $1.16 billion, which beat the analyst consensus estimate of $1.14 billion.

Lyft shares fell 4.8% to close at $12.40 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Goldman Sachs analyst Erix Sheridan maintained a Neutral rating and raised the price target from $12 to $15 on Jan. 12, 2024. This analyst has an accuracy rate of 77%.
• BMO Capital analyst Brian Pitz initiated coverage on the stock with a Market Perform rating and a price target of $15 on Jan. 9, 2024. This analyst has an accuracy rate of 69%.
• Wedbush analyst Daniel Ives maintained a Neutral rating and raised the price target from $12 to $14 on Dec. 27, 2023. This analyst has an accuracy rate of 77%.
• Truist Securities analyst Youssef Squalli maintained a Hold rating and increased the price target from $12 to $13 on Nov. 9, 2023. This analyst has an accuracy rate of 83%.
• Wells Fargo analyst Ken Gawrelski maintained an Equal-Weight rating and raised the price target from $9 to $10 on Nov. 9, 2023. This analyst has an accuracy rate of 72%.

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