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Lyft Inc Class A LYFT

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Morningstar’s Analysis

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Lyft Q3 Results Beat Expectations with Increase in Rides; Maintaining $50 FVE; Shares Undervalued

Ali Mogharabi Senior Equity Analyst

Analyst Note

| Ali Mogharabi |

Lyft posted better-than-expected third-quarter top- and bottom-line results as sequential improvement in ride service demand accelerated. Lyft’s cost control, especially on marketing lowered the operating loss. While higher demand continued through October, we think the latest wave of coronavirus cases across the U.S. will slightly slowdown the recovery in the remainder of 2020. However, with a likely gradual economic recovery in 2021 accompanied by increase in commute and travel, we expect Lyft ridesharing revenue to return to strong double-digit growth next year.

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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 has recently entered the Canadian market, in efforts to expand its market outside of 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 multi-modal transportation options to users.

Contact
185 Berry Street, Suite 5000
San Francisco, CA, 94107
T +1 844 250-2773
Sector Technology
Industry Software - Application
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Speculative Growth
Employees 5,683

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