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 Q3 results in October last year, the ride-hailing company upgraded its FY 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 Q4 of 2021.’

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Lyft continues to outperform the market

Since the start of the new year Lyft continues to out perform the broader market with the stock up more than 11% year-to-date, 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.


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