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Lyft Inc Class A LYFT

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Morningstar’s Analysis

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Lyft’s Network Effect Strengthened the Platform’s Supply and Demand in Q3; Increasing FVE to $66

Ali Mogharabi Senior Equity Analyst

Analyst Note

| Ali Mogharabi |

Lyft’s third-quarter results beat the FactSet consensus estimates on the top and bottom line as demand for the firm’s services continued to strengthen with increases in riders and revenue per rider. On the supply side, more drivers jumped on the platform, which together with strong demand displayed Lyft’s network effect moat source. Higher ride volume along with lower rider acquisition costs improved Lyft’s adjusted EBITDA margin.

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Company Profile

Business Description

Lyft is the second- largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft recently entered the Canadian market in an effort to expand its market outside the U.S. Incorporated in 2013, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft also has entered the bike- and scooter-share market to bring multimodal transportation options to users.

185 Berry Street, Suite 5000
San Francisco, CA, 94107
T +1 844 250-2773
Sector Technology
Industry Software - Application
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Speculative Growth
Employees 4,675