Lyft Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | August 07, 2024 03:09am

Lyft, Inc. (NASDAQ:LYFT) is expected to release earnings results for its second quarter, before the opening bell on Wednesday, Aug. 7.

Analysts expect the San Francisco, California-based company to report quarterly earnings at 19 cents per share, up from 16 cents per share in the year-ago quarter. Lyft is projected to report quarterly revenue of $1.39 billion, compared to $1.02 billion a year earlier, according to data from Benzinga Pro.

On July 25, Lyft and Payfare reported the long term extension of Lyft Direct Program.

Lyft shares gained 3.8% to close at $10.97 on Tuesday.

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.

• Morgan Stanley analyst Brian Nowak maintained an Equal-Weight rating and raised the price target from $17 to $18 on June 7. This analyst has an accuracy rate of 71%.
• Goldman Sachs analyst Eric Sheridan maintained a Neutral rating and boosted the price target from $19 to $21 on June 7. This analyst has an accuracy rate of 78%.
• RBC Capital analyst Brad Erickson reiterated an Outperform rating with a price target of $24 on June 7. This analyst has an accuracy rate of 65%.
• Wedbush analyst Scott Devitt maintained a Neutral rating and boosted the price target from $18 to $19 on June 7. This analyst has an accuracy rate of 80%.
• Barclays analyst Ross Sandler maintained an Equal-Weight rating and increased the price target from $17 to $20 on May 8. This analyst has an accuracy rate of 70%.

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Posted In: LYFT