Wall Street analysts are markedly bullish about the ride-hailing company ahead of the stock's debut on Friday.
Most of the outlooks are positive, citing a huge market for ride-hailing and a company that's still very quickly growing.
"Our BUY rating reflects LYFT's impressive recent U.S. market share gains and momentum, the continued growth/expansion of the broader Ridesharing market, and the stock's reasonable EV/Sales multiple," he said in a note to clients. "The ridesharing industry has become one of the most transformational growth sectors of the US consumer market over the past five years with Lyft establishing itself as a clear #2 player behind the worldwide leader Uber," Ives said in a note to clients Wednesday., where US consumers spend $95 billion annually on public transportation.
"There are also a number of risks/uncertainty that we see in the crystal ball for Lyft including: competitive pressures, lack of a path to profitability in the near-term, regulatory uncertainty, and positioning within the next generation autonomous driving arms race," Ives saidMorningstar, traditionally a more conservative sell-side firm, has the highest target yet for Lyft's yet-to-trade stock but says the company's economic moat may be smaller than investors may want.
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