LYFT Stock Forecast 2023

LYFT Stock Forecast: Latest Price

Lyft announced that Janey Whiteside has joined its Board of Directors, effective July 31, 2023. Janey Whiteside will also take on the role of a member of the Compensation Committee. Janey is known for her customer-centric approach and experience in growing iconic brands like American Express and Walmart. She currently serves as a Partner at Consello and is the CEO of Consello Growth and Business Development.
Lyft users on Twitter are engaging in diverse discussions, ranging from customer inquiries to complaints. The overall sentiment on Twitter appears to be a blend of positivity and negativity, as some users commend Lyft’s helpfulness, while others express frustration with certain aspects of the service.

Overall, the technical analysis for LYFT indicates Strong Buy recommendation.

UTC: Sep 25th, 2023 06:20 PM

LYFT Price Target for the Next 12 Months	$12.4
*Tigress Capital*	*$22*
*TD Cowen*	*$11*
*Morgan Stanley*	*$10*
*DA Davidson*	*$9.8*
*Wells Fargo*	$9

Lyft Inc. reported revenue of $1.0 billion for Q1 2023, marking a 14% increase year-over-year and surpassing their projected guidance.
The company’s net loss for Q1 2023 was $187.6 million, a reduction from $196.9 million in Q1 2022 and $588.1 million in Q4 2022.
Adjusted EBITDA was $22.7 million, exceeding the guidance range of $5 to $15 million.
For Q2 2023, Lyft expects revenue to be between $1.0 billion and $1.02 billion, with an Adjusted EBITDA between $20 million and $30 million.
The number of active riders in Q1 2023 increased by 9.8% to 19,552 thousand, from 17,804 thousand in Q1 2022.
Revenue per active rider grew by 4.0% from $49.18 in Q1 2022 to $51.17 in Q1 2023.
Lyft’s management expressed optimism for the future, with a focus on improving the rideshare service for both riders and drivers.

Lyft Inc. announced its financial results for Q4 2022 and the fiscal year 2022, with Q4 recording the highest revenues in company history.
Q4 2022 revenue was $1.2 billion, representing a 21% increase from Q4 2021 and a 12% increase from Q3 2022.
Lyft strengthened its insurance reserves and accrued other current liabilities by $375 million.
The net loss for Q4 2022 was $588.1 million, including $201.3 million of stock-based compensation and related payroll tax expenses.
Adjusted EBITDA for Q4 2022 was a negative $248.3 million; however, it exceeded the company’s outlook at a positive $126.7 million when excluding insurance reserve adjustments.
Unrestricted cash, cash equivalents, and short-term investments totaled $1.8 billion at the end of 2022.
Revenue for the full fiscal year 2022 was $4.1 billion, a 28% growth year-over-year from $3.2 billion in 2021.
The net loss for the fiscal year 2022 was $1.6 billion, including $767.8 million of stock-based compensation and related payroll tax expenses.
Adjusted EBITDA for the fiscal year 2022 was a negative $416.5 million.
For Q1 2023, Lyft anticipates revenue to be approximately $975 million and Adjusted EBITDA to be between $5 million and $15 million.
The number of active riders and revenue per active rider increased across all quarters of 2022 compared to 2021.