Lyft stock

Lyft's $4 billion market cap Friday is six times less than what it was at its 2019 IPO.

Lyft went public in March 2019 at $72 per share and a $24 billion valuation, about six times as much as its $3.8 billion market capitalization Friday. Shares fell 74% in 2022 amid a broader albeit less severe market downturn. Uber’s monthly active users have grown by 18% in the period, per FactSet. The stock sank 36% to $10.34 as of 12:30 p.m. Lyft has failed to attract the same number of customers as before the pandemic, with its 20.4 million active riders last quarter falling short of its 22.9 million customers in the last quarter of 2019. [report](https://s27.q4cdn.com/263799617/files/doc_financials/2022/q4/r/Lyft-2022-12-31-Press-Release-(Annual).pdf) after Thursday’s market close, Lyft disclosed a $0.76 loss per share in the last three months of 2022, compared to consensus estimates of a $0.13 per share profit in the period.

Lyft isn't getting too many stars for its latest earnings report, which showed the challenges of competing against Uber.

“In 22 years on the Street as a tech analyst we have listened to 1,000s of conference calls with many highs and lows,” wrote Wedbush analyst Daniel Ives. Its stock was off about 3% shortly after Friday’s open. At least eight analysts downgraded the stock after earnings, according to data from FactSet. It was also the stock’s lowest close since Dec. The company’s shares have decreased almost 75% in the past year. Lyft Inc.

Lyft shares plummeted by more than 30 percent in pre-market trading after posting a massive first-quarter earnings miss.

[Join the discussion](#join-discussion) “To take advantage of this opportunity we must ensure competitive service levels. Their revenue was up nearly 50 per cent year on year and they hit a new record of over two billion trips in a single quarter. Less Prime Time means fewer peak hours that are often cost riders more due to a surge in demand. ADVERTISEMENT Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data.

Lyft shares collapsed Friday following the ride-sharing group forecast softer-than-expected near term revenues and a plan to reduce prices and claw back ...

Lyft shares are headed for their worst one-day drop since the company's initial public offering in 2019, after the ride-hailing company reported an ...

So far in 2023, Lyft shares have outperformed Uber's—though Friday's trading session will likely see some of Lyft's gains unwind.\n\nShares of Uber were down 4.4% to $34.30%. It had 20.4 million riders in the quarter, the highest number in nearly three years.\n\nStill, that wasn't enough to appease analysts at Wedbush Securities, who downgraded the stock to neutral from outperform, saying there were serious questions about whether Lyft’s business model can scale in a profitable way.\n\nIt is “a winner take all rideshare market with Uber the winner and Lyft looking like the major loser with a murky path forward,” analysts Daniel Ives and John Katsingris wrote in a Friday note. The stock's previous record one-day fall was a 30% tumble on May 4, 2022, according to Dow Jones Market Data.\n\nOver the last three days, Lyft's shares have fallen more than 42%.\n\nLyft reported an adjusted loss of 74 cents per share in the fourth quarter late on Thursday, surprising analysts who were looking for a profit.

Shares of Lyft are slumping Feb. 10 after the ride-share provider delivered a disappointing quarterly report.

Shares of Lyft fell Friday, a day after the company reported guidance for its first quarter of 2023 that was short of analyst expectations. · Lyft's CFO pointed ...

[Subscribe to CNBC on YouTube.](https://www.youtube.com/c/CNBC?sub_confirmation=1) However, rideshare is now approaching full recovery in the US, but Lyft is not," JPMorgan's Doug Anmuth said. It also reported an adjusted loss per share of 74 cents. Lyft's CFO pointed to "seasonality and lower prices" to explain the guidance. [Wall Street noticed](https://www.cnbc.com/2023/02/10/analysts-bail-on-lyft-after-latest-earnings-say-uber-is-cementing-its-place-as-leader-.html) the contrast between Lyft's report and [Uber's earnings](https://www.cnbc.com/2023/02/08/uber-earnings-q4-2022.html#:~:text=Uber%20noted%20that%20net%20income,off%20its%20%E2%80%9Cstrongest%20year.%E2%80%9D). - Lyft's CFO pointed to "seasonality and lower prices" to explain the guidance.

Shares of Lyft are slumping Feb. 10 after the ride-share provider delivered a disappointing quarterly report.

Lyft (LYFT -35.81%) posted an unexpected loss in the fourth quarter and provided disappointing guidance for the first three months of 2023.

Wedbush analyst Daniel Ives, who moved Lyft to a neutral from an outperform post-earnings, called the earnings release and conference call a "debacle for the ages." The results come just days after Lyft archrival Uber Technologies reported better-than-expected revenue and earnings growth, and Wall Street appears worried that the issues at Lyft are deeper than one quarter's results. "Our Q1 guidance is the result of seasonality and lower prices, including less Prime Time. Lyft lost $0.74 per share in the last three months of 2022, a significant miss in a quarter for which analysts had expected a slight profit. The company reported 20.4 million riders in the quarter, its highest total in nearly three years. But there appears to be softness relative to expectations on the demand side as well.

The ride-hailing company missed its Q1 2023 guidance, despite signs of recovery in the rideshare market, and Lyft was downgraded by a number of analysts this ...