Heard on the Street: Lyft’s fundamentals show its rebound is likely to stall as the new year progresses
After losing around three-quarters of its market value last year, Lyft ‘s shares are up almost 47% this month. A close look at the ride-hailer’s fundamentals suggest that kind of rebound hasn’t yet been earned.by more global competitor Uber Technologies , isn’t suddenly gaining ground.
In an initiation report in early January, Jefferies analyst John Colantuoni estimated the ride-hailer ended last year with around 29% U.S. market share to Uber’s 71%. His estimates show Lyft exiting the pandemic in arguably worse shape than it entered it, having lost around 3 percentage points of market share over the last three years.
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