Down 84% From Its All-Time High, Is Lyft a Super Stock to Buy Now?
There's no sugarcoating it. (NASDAQ: LYFT) has been an absolute dud for investors. As of this writing, shares of the ride-hailing service are 84% below their peak price, which was set back in March 2019. This is a very disappointing performance, but the huge dip might be too hard to pass up for some investors.
So is Lyft a super stock to buy now? Let's take a closer look and see if the company can rev itself up again.
Even in uncertain economic times, when consumer mobility might be under pressure, Lyft is still expanding at a healthy pace. Revenue in the most recent quarter (third quarter of 2023, ended Sept. 30) totaled just under $1.2 billion, representing a 10% year-over-year increase. This was boosted by a 20% jump in gross bookings.
Source Fool.com
LYFT Inc Stock
We see a rather positive sentiment for LYFT Inc with 16 Buy predictions and 1 Sell predictions.
With a target price of 19 € there is a hugely positive potential of 84.72% for LYFT Inc compared to the current price of 10.29 €.
