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Lyft Added to Tactical Underperform List at Evercore ISI -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Mark Mahaney, Evercore ISI analyst, told investors in research that he had added Lyft Inc (NASDAQ) is to the Tactical Asset Posing (TAP), Underperformance List.

Mahaney kept a stock rating of outperform and set a price target at $75 for Lyft.

Lyft stock prices fell by 4.5% on Wednesday

An analyst admitted that there is no upside in revenue estimations for the fourth-quarter due to the growing number of Covid-19 cases related to the Omicron variant.

“We are taking a short-term outlook on LYFT, as we view Omicron to pose headwinds to Q4/Q1 Revenue,” said the Evercore analyst.

However, he noted that “the main risks surrounding our call include: 1) Omicron’s impact being less severe and/or shorter than expected, 2) A material improvement in the company’s Take Rate (allowing Revenue to be less impacted by the potential GMV headwind), and/or 3) An accelerated Acquisition of Active Riders.”

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