{"id":78985,"date":"2023-10-31T13:44:10","date_gmt":"2023-10-31T17:44:10","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/lyft-is-losing-its-race-with-uber-this-analyst-says-sell-the-stock\/"},"modified":"2023-10-31T13:44:13","modified_gmt":"2023-10-31T17:44:13","slug":"lyft-is-losing-its-race-with-uber-this-analyst-says-sell-the-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78985","title":{"rendered":"Lyft Is Losing Its Race With Uber. This Analyst Says Sell the Stock."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000786562\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Investors should \u201csteer clear\u201d of<br \/>\n        Lyft<span>,<\/span><br \/>\n       one analyst team argued as it slashed its rating on the ride-hailing company ahead of earnings. <\/p>\n<p>MoffettNathanson analysts led by Michael Morton lowered their rating on<br \/>\n        Lyft<br \/>\n       (ticker: LYFT) to Sell from Neutral and cut their price target to $7 from $10 in a research report. <\/p>\n<p>Shares of Lyft were trading down 1% to $9.34.<\/p>\n<div class=\"paywall\">\n<p>\u201cWhen it comes to company disclosures, we\u2019ve never been a believer that \u2018less is more,&#8217;\u201d the analysts wrote, referring to the company\u2019s decision a few years ago to stop providing disclosures on ride volume and gross bookings. <\/p>\n<p>Lyft is scheduled to post fiscal third-quarter earnings on Nov. 8, and alongside those results the company is expected to offer long-term guidance and potentially further information on bookings and volumes, but the analyst team isn\u2019t optimistic. <\/p>\n<p>\u201cWhen it comes to raising prices, Lyft is beholden to its more scaled, better funded, and more profitable peer,<br \/>\n        Uber<span>,<\/span><br \/>\n      \u201d they wrote. \u201cRecently, Uber has demonstrated more patience raising ride-share prices and take-rates domestically, causing Lyft to lose significant market share.\u201d A take rate is how much a company makes from each booking. <\/p>\n<p>Lacking that boost from take-rates and higher prices, the analysts are expecting gross margins to decline sharply in the future \u201cas insurance cost growth outpaces pricing growth.\u201d <\/p>\n<p>They also expect any long-term guidance to come in below estimates. <\/p>\n<p>It\u2019s been a tough year for Lyft shares, which have fallen 15%, while<br \/>\n        Uber Technologies<br \/>\n       (UBER) has soared 72%. Last month, the Securities and Exchange Commission said Lyft will pay a $10 million penalty after it did not disclose a large stock transaction prior to its initial public offering.<\/p>\n<p>Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/lyft-stock-sell-uber-8cf9949e?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors should \u201csteer clear\u201d of Lyft, one analyst team argued as it slashed its rating on the ride-hailing company ahead of earnings. MoffettNathanson analysts led by Michael Morton lowered their rating on Lyft (ticker: LYFT) to Sell from Neutral and cut their price target to $7 from $10 in a research report. Shares of Lyft [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-78985","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lyft Is Losing Its Race With Uber. This Analyst Says Sell the Stock. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investors should \u201csteer clear\u201d of Lyft, one analyst team argued as it slashed its rating on the ride-hailing company ahead of earnings. 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