Lyft (LYFT) Stock Forecast & Price Target

Lyft is benefiting from a stronger mix shift toward higher-value rides, which lifted gross bookings by 23% year over year in 2Q and drove adjusted EBITDA up 37% as higher take rates and better unit economics improved profitability. Its outlook is further supported by active riders reaching 30.5 million, record ride and booking levels, and roughly 30% of North America rideshare rides coming through partnerships, which broadens demand and deepens retention. Beyond the core business, international expansion through Freenow, Gett, and TBR, plus Flexdrive and Waymo-related autonomous vehicle optionality, adds a longer runway for growth and margin expansion despite competitive risks.

Lyft is facing a softer growth trajectory as lower 2H-2027 ride-volume expectations, a projected 2H26 ride growth rate of 10.6% versus 11.9% consensus, and management’s own view of similar trends to 1H indicate moderating momentum rather than acceleration. International acquisitions such as Gett, Freenow, and TBR Global improve diversification, but the lack of disclosed integration impact, the gap between Gross Bookings growth of 23% and Rides growth of 12%, and ongoing S&M, insurance, and integration costs suggest the core business is still not closing the profitability or scale gap versus larger competitors. Competitive pressure from Uber, AV entrants, and volatile U.S. regulation in California and New York further weaken the investment case, while the expected CFO transition may temper confidence ahead of 2024-27 Investor Day targets.