Evercore keeps Lyft stock at In Line, maintains price target By Investing.com
On Monday, Evercore ISI maintained its In Line rating and a $17.00 price target for shares of Lyft (NASDAQ:). The firm’s position comes in anticipation of the company’s third-quarter earnings, which are expected to modestly surpass Wall Street’s expectations. According to Evercore ISI, Lyft is likely to achieve a “Beat & Bracket” outcome for its third-quarter earnings per share (EPS).
The firm’s analysis suggests that the consensus estimates of $4.07 billion in Gross Bookings, marking a year-over-year increase of 15%, and $1.44 billion in Revenue, a 25% increase from the previous year, are reasonable. The expected EBITDA stands at $94 million, which would represent a 2.3% margin as a percentage of Gross Bookings. These projections…
