Lyft share price: what’s the latest ahead of its full-year results?
The ride-hailing company will unveil its full-year results next week, with investors hoping the company can hit its revenue target after upgrading its guidance for 2019.
Lyft will release its fourth-quarter (Q4) and full-year (FY) results on 11 February, with investors hoping the company can hit its revenue target after upgrading its guidance for 2019.
In its third quarter results in October last year, the ride-hailing company upgraded its full-year guidance, with revenue expected to come between $3.57 billion - $3.58 billion, up from $3.47 billion and $3.50 billion.
If the company can meet its own forecast, it will record an annual revenue growth rate of around 66%, up from its previous guidance of between 61% - 62%
However, the company’s earnings are expected to be disappointing, with it forecasting an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss of between $708 million - $718 million, though this represents a marked improvement from its previous guidance of a loss between $850 million - $875 million.
‘Our continued focus on consumer transportation is yielding meaningful improvements in monetization and strong operating leverage,’ Lyft co-founder and chief executive officer (CEO) Logan Green said in its Q3 results.
‘As a result of the continued strength of our execution, we are updating our outlook for 2019. Importantly, we now expect to be profitable on an adjusted EBITDA basis in the Q4 of 2021.’
Looking to trade Lyft and other stocks? Open a live or demo account with IG today.
Lyft continues to outperform the market
Since the start of the new year Lfyt continues to out perform the broader market with the stock up more than 11% YTD, while the S&P 500 has delivered returns of just 1% for investors over the same period.
On aggregate forecasters are optimistic about Lyft shares, with the 35 analysts offering 12-month price targets for the stock having a median target of $62.
Based on Lyft trading at $48.59 as of 17:20 (GMT) on Wednesday, analysts believe the stock has a potential upside of 27.6%.
You can go long or short Lyft with IG using derivatives like CFDs.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
