- Lyft's stock experiences a significant decline following a downgrade from Bank of America.
- Wall Street analysts provide varied price targets and a consensus "Hold" recommendation.
- GuruFocus estimates suggest a potential upside if Lyft's stock achieves its GF Value.
Lyft Inc. (NASDAQ: LYFT) experienced a severe 9.9% drop in pre-market trading after Bank of America shifted its stance on the stock from "Buy" to "Underperform." This downgrade is primarily triggered by the intense competition from autonomous vehicle companies, notably Waymo, which is rapidly expanding in significant markets like San Francisco and Los Angeles.
Wall Street Analysts' Insights on Lyft
Among 37 financial analysts, the consensus one-year price target for Lyft Inc. (LYFT, Financial) averages $17.13, with projections ranging between $26.00 at the high end and $10.00 at the low. This average estimate implies a possible 43.70% upside from today's trading price of $11.92. Investors seeking further insights can explore more detailed data on the Lyft Inc (LYFT) Forecast page.
Brokerage Recommendations
In addition to price predictions, a collective assessment from 47 brokerage firms assigns an average recommendation score of 2.6 for Lyft Inc. (LYFT, Financial), translating to a "Hold" status. This rating scale spans from 1, indicating a "Strong Buy," to 5, suggesting a "Sell."
GuruFocus's GF Value Analysis
According to GuruFocus's GF Value assessment, Lyft Inc. (LYFT, Financial) is expected to reach a value of $17.26 in a year, presenting a potential 44.8% upside from the current price point of $11.92. The GF Value is derived from an analysis of historical trading multiples alongside past and projected business performance. For a more comprehensive analysis, interested parties can visit the Lyft Inc (LYFT) Summary page.
