While Uber disappointed with the first day IPO sale by starting at the lower end of its share price estimate, opening the initial trade below the low end of 45$, at 42$, Lyft (LYFT) recorded a similar defeat with -23% during its first trade.
However, Wall Street investors appear to be more positive about Lyft performance as well as LYFT share price upon having Lyft releasing the first financial report after the company went public.
Here is what Wall Street has to say about Lyft future forecast for the following period, based on Q1 report 2019 published in May by Lyft.
Credit Suisse on Lyft Price Prediction
According to CNBC, Stephen Ju from Credit Suisse is predicting that Lyft will get to see a share price of 95$, providing it with “outperform” rank based on the potential the company has shown through the latest financial report.
Credit Suisse noted that Lyft had improved long-term margin targets, believing that Lyft’s growth potential will show the first results already at the end of Q2 2019.
JP Morgan on Lyft Price Prediction
JP Morgan’s Doug Anmuth emphasizes that Lyft managed to showcase a strong outlook of finances, considering that 2019 is actually the peak of losses for Lyft.
Additionally, JP Morgan indicates that Lyft could reach a price target between 82$ and 86$ per share, estimating that revenue generated by the company is set to increase in 2019 and 2020 between 3% to 4%.
JP Morgan provided “overweight” rank for Lyft shares.
JMP Securities on Lyft Price Prediction
JMP Securities’ Ronald Josey provided somewhat lower share price estimate, but a rather positive price target in oppose to the present Lyft share price.
JMP Securities is estimating 78$ share price for Lyft, accounting for between 30-40% of market share in the ridesharing industry on the domestic level.
The rating set for Lyft by this Wall Street analyst is “outperform” for the future forecast.