Lyft Price Target Cut to $15 After Mixed Q1 Results with 19% Bookings Growth
An analyst lowered Lyft’s price target to $15 from $16 after Q1 revenue of $1.65 billion beat expectations while EPS of $0.21 missed the $0.31 consensus. Gross bookings rose 19% to $4.90 billion and active riders climbed 17% to 28.3 million, underpinning robust demand.
1. Analyst Price Target Adjustment
Following mixed first-quarter results, the price target was lowered to $15 from $16, reflecting concerns over profitability despite solid top-line growth.
2. Revenue and EPS Outcome
Q1 revenue reached $1.65 billion, up 13.8% year-over-year, while EPS of $0.21 fell short of the $0.31 consensus, with severe winter storms cited as a drag on performance.
3. Operational Growth Performance
Core metrics showed resilience, with gross bookings rising 19% to $4.90 billion and active riders up 17% to 28.3 million, and March delivering the highest weekly ride count ever.
4. Q2 Guidance Outlook
Management forecasts second-quarter gross bookings between $5.30 billion and $5.43 billion, indicating continued demand growth and potential modest upside from the new price target.