Lyft's Bookings Guidance Bests Uber, Analyst Says: 'Better Than Feared'

Written by Emily J. Thompson, Senior Investment Analyst

DASH-2.28%

UBER+0.56%

DOOR%

Source: Benzinga

Updated: Nov 07 2024

0mins

Source: Benzinga

Lyft's Positive Earnings Report: Lyft Inc. shares rose after the company reported strong third-quarter results, exceeding analyst expectations for bookings and EBITDA, with several analysts raising their price targets for the stock.
Analyst Insights on Future Growth: Analysts highlighted Lyft's improving fundamentals, successful ad partnerships, and product innovations as key drivers for growth, while maintaining a cautious outlook on the company's long-term sustainability.

DASH

$205.32+Infinity%1D

Analyst Views on DASH

Wall Street analysts forecast DASH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DASH is 284.46 USD with a low forecast of 205.00 USD and a high forecast of 360.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

30 Analyst Rating

24 Buy

6 Hold

0 Sell

Strong Buy

Current: 210.110

Low

205.00

Averages

284.46

High

360.00

Current: 210.110

Low

205.00

Averages

284.46

High

360.00

Wells Fargo

Equal Weight

maintain

$239 -> $251

Al Analysis

2026-01-08

Reason

Wells Fargo

Price Target

$239 -> $251

Al Analysis

2026-01-08

maintain

Equal Weight

Reason

Wells Fargo raised the firm's price target on DoorDash to $251 from $239 and keeps an Equal Weight rating on the shares. The firm expects Q4 results in-line, and Q1 GOV guide 2% above consensus. Wells believes phasing of tech replatforming cost poses downside risk to consensus second half of 2026 margin expansion forecast and adds uncertainty to 2027 EBITDA estimates.

Cantor Fitzgerald

Overweight

maintain

$270 -> $285

2026-01-08

Reason

Cantor Fitzgerald

Price Target

$270 -> $285

2026-01-08

maintain

Overweight

Reason

Cantor Fitzgerald raised the firm's price target on DoorDash to $285 from $270 and keeps an Overweight rating on the shares. Despite lingering macro concerns, the outlook for Global Internet stocks into 2026 is increasingly positive as AI enters a "Synergy" phase that should drive accelerating revenue growth, improved value capture, and clearer long-term returns on capex, the analyst tells investors in a research note. With valuations still about 20% below medium-term ranges despite 2025 outperformance, the group is positioned to outperform in 2026 amid positive estimate revisions and improving sentiment, Cantor says.

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Wolfe Research

Outperform

maintain

$275 -> $270

2026-01-05

Reason

Wolfe Research

Price Target

$275 -> $270

2026-01-05

maintain

Outperform

Reason

Wolfe Research lowered the firm's price target on DoorDash to $270 from $275 and keeps an Outperform rating on the shares. 2026 could be another positive year for Internet stocks, though maybe not as much outperformance as the prior three years given current, elevated multiples for some of the firm's coverage, the analyst tells investors in a research note. The firm added that it sees opportunities for estimates upside driven by AI developments and product catalysts, a relatively healthy macro backdrop, successful capital allocation, and pockets of re-rating potential.

Wedbush

Outperform

maintain

$260 -> $270

2025-12-19

Reason

Wedbush

Price Target

$260 -> $270

2025-12-19

maintain

Outperform

Reason

Wedbush raised the firm's price target on DoorDash to $270 from $260 and keeps an Outperform rating on the shares. DoorDash remains a top mobility pick for next year, maintaining a leading position in U.S. food delivery while successfully expanding into new initiatives, the analyst tells investors in a research note. Near-term margin pressure from elevated spending is expected, but these investments are seen as supporting long-term growth and a broader global total addressable market, the firm says.

About DASH

DoorDash, Inc. is engaged in providing services that reduce friction in local commerce and help merchants connect with consumers in their communities. The Company's primary offerings include the DoorDash Marketplace and the Wolt Marketplace (together, the Marketplaces), and its Commerce Platform. The Company's Marketplaces operate in over 30 countries across the globe and provide an integrated suite of services that help merchants establish an online presence, connect with consumers in their communities, and solve mission-critical challenges, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. It also offers advertising as a value-added service through its Marketplaces to help merchants and consumer packaged goods companies increase consumer engagement. The Company also has offsite advertising capabilities. Its white-label delivery fulfillment services include DoorDash Drive On-Demand and Wolt Drive.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.