- The shares of Lyft (LYFT) recently received a $17 price target. These are the details.
The shares of Lyft (LYFT) recently received a $17 price target.
Price target: Reduced from $41 to $17
Analyst firm: Argus
Argus adjusted the rating in order to account for the recent selloff in the stock. But they are keeping the Buy rating as the company announced its second round of layoffs this year and issued disappointing fourth-quarter revenue guidance. But they expect its current challenges to be temporary and that the long-term prospects remain strong.
Plus Argus analysts pointed out that despite rising costs, Lyft posted substantially higher year-over-year earnings for the third quarter. And Lyft saw growth in active riders and revenue per active rider.