|Bid||43.40 x 1000|
|Ask||43.34 x 1800|
|Day's Range||38.20 - 43.82|
|52 Week Range||14.56 - 54.50|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 09, 2021 - Feb 15, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.44|
The rising number of COVID-19 cases slammed into Lyft's (NASDAQ: LYFT) business last month as the ridesharing company said the number of rides plunged 50% from last year. As a result, Lyft says it now forecasts sequential revenue growth to be at the lower end of the 11% to 15% range it previously guided toward. Shares of Lyft rose in morning trading on the news.
Lyft said it expects an adjusted Q4 loss of "better than $185 million" thanks to improving margins and ongoing cost controls.
Shares of Lyft Inc. fell 1.3% in premarket trading Wednesday, after the ridesharing company tempered its fourth-quarter revenue outlook, following a big drop in rides in November. The company said rideshare rides in November were down about 50% from the same period a year ago, due primarily to rising COVID-19 case counts, which has led to the reintroduction of restrictive measures. As a result, the company now expects fourth-quarter revenue growth to be at the "lower end" of the previously provided guidance range on Nov. 10 of 11%-to-15% sequential growth. Meanwhile, the company said it can manage its adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) loss "to be better than $185 million," compared with previously provided loss guidance of "roughly $200 million at the midpoint and $190 million at the high end." The stock has lost 7.9% year to date through Tuesday, while the S&P 500 has advanced 13.4%.