- 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.