Lyft stock rating reiterated at Market Perform by Raymond James

Investing.com · 2026-11-06 14:32 UTC

Lyft stock rating reiterated at Market Perform by Raymond James

Investing.com - Raymond James reiterated a Market Perform stock rating on Lyft Inc (NASDAQ:LYFT).

Lyft delivered in-line gross bookings and an $8 million adjusted EBITDA beat as higher gross bookings per ride offset a slight rides miss. Reinvested insurance savings remain a tailwind for the company. The ride-sharing company trades at a P/E ratio of just 2.46 and has been profitable over the last twelve months, according to InvestingPro data.

North American rides growth accelerated for the second consecutive quarter. Further acceleration is expected in the fourth quarter driven by favorable supply dynamics, partnerships, incentives and sparse/premium dynamics. The stock has delivered a 25% return over the past six months, though InvestingPro analysis suggests the company remains undervalued at current levels.

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