Lyft (LYFT) Stock Falls Over 1.9%: Details

By Amit Chowdhry ● Nov 22, 2022
  • The stock price of Lyft (LYFT) fell by over 1.9% intraday today. This is why.

The stock price of Lyft (LYFT) fell by over 1.9% intraday today.

Why: Research report

Price target: Reduced from $36 to $14

Rating: Downgraded from “Outperform” to “Market Perform”

Cowen analysts downgraded Lyft to reflect the near-term challenges. And the research report highlights the higher insurance costs and the potential for revenue per rider to be affected by the weaker consumer, a regulatory overhang, and uncertainty around reaching the 2024 EBITDA guidance.