2024-05-14 21:57:43 ET
Summary
- Lyft's focus on domestic operations and profitable growth has led to accelerated ridership growth and increased profitability.
- The rideshare company is exploring additional routes to monetization, such as Lyft Media, which will contribute to margin expansion.
- Lyft has strong secular tailwinds, diversified modes of transport, operational focus, and a strong balance sheet, making it a promising investment.
In volatile markets, it's sometimes scary to bank on turnaround names, but if I had to pick one out of several, I'd say Lyft ( LYFT ) is one of the most promising. The rideshare company, which is leagues behind Uber ( UBER ) in terms of global scale, has succeeded in defining its moat and focusing on its domestic operations, accelerating both its ridership growth as well as boosting its profitability....
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Lyft: With Accelerating Bookings And EBITDA Gains, There's A Reason To Smile Again (Rating Upgrade)