Lyft tumbles as winter storm, tougher competition hit forecast

Lyft

11/02/2026 09:21

** Shares of ride-hailing provider Lyft LYFT.O down over 17% to $13.98 premarket after co forecast first-quarter adjusted core profit below expectations, hit by severe winter storms in parts of the U.S.

** Co expects first-quarter adjusted core profit of $120 million-$140 million, below estimates of $139.4 million

** Sees Q1 gross bookings of $4.86 billion to $5 billion, with midpoint largely in line with an estimate of $4.95 billion

** "LYFT's weaker-than-expected results and guide reinforce the underlying challenges it faces as it works to find pockets of durable, profitable growth while competing against both a more scaled, multi-product global player in UBER," Morgan Stanley analysts say in a note

** Co's weak outlook overshadows a strong fourth quarter, where adjusted core earnings topped expectations

** At least five brokerages cut their PTs on the stock

** Fourteen of 49 brokerages rate the stock "buy" or higher, 33 "hold" and two "sell" or lower; their median PT is $22 - data compiled by LSEG

** YTD, LYFT down 13% as of last close

 (Reporting by Kanchana Chakravarty in Bengaluru)

 ((Kanchana.Chakravarty@thomsonreuters.com;))