While it may not be enough for some shareholders, we think it is good to see the Lyft, Inc. ( NASDAQ:LYFT ) share price...
SAN FRANCISCO, April 18, 2024--Lyft, Inc. (Nasdaq: LYFT) (the "Company" or "Lyft") will release financial results for the first quarter of 2024 after the close of the market on Tuesday, May 7, 2024.
Shares of Lyft (LYFT) and DoorDash (DASH) are trading higher Monday afternoon as both companies received an upgrade from RBC Capital Markets from Sector Perform to Outperform. The firm also investigated what a potential partnership between the two companies could look like. RBC Capital Markets equity analyst Brad Erickson joins Yahoo Finance to discuss the decision behind the call and explain the strengths of platform cross-loyalty. Erickson elaborates on the positives for both of these companies: "On Lyft, we do a proprietary analysis that's basically got a lot better for Lyft as of last August and has continued to improve. We think they're operating on relatively equal footing now meaning competing with Uber (UBER)... The stock is not priced for them to compete with Uber. On the DoorDash front, it's an even simpler call where we think numbers are too low. We like the fact that the way that somebody starts out ordering a DoorDash once a month or twice a year, whatever, that frequency has shown a continuous ability to grow predictably. Betting against DoorDash here is like betting against the macro from a consumer slowdown standpoint and again we think numbers are going to be moving up and that's not appreciated." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino