That was a quick turnaround. Investors vary between light enthusiasm and whether the business model makes sense.
The shares traded at $ 42 on Friday, down 7% from their $ 45 stock exchange price.
The stock price of $ 54 is 25% below the IPO price of $ 72 in March.
The problem: The two levers that the pair can use to drive profits – cut driver payments and raise prices – could hurt growth, Davidson analyst Tom White wrote. This marks a break with pre-IPO exposure as investors focused more on the huge market and less on profitability. Both Uber and Lyft are in red ink. Uber lost $ 1 billion in the first quarter and the smaller Lyft expects a loss of $ 1.1 billion this year.
"White wrote." At a high level, we believe that the market is struggling to balance the interplay between 1) the key levers to generate rivability and 2) the question of whether pulling these levers could limit the addressable market opportunities, To understand. "
Most I believe that Uber earns a premium for Lyft because it's bigger and global in scale, involved in overseas ride hunters and companies like Uber Eats. White is not so sure about that. Uber's revenue growth slowed to 20% in the first quarter from 69% in March 2018. Lyft's revenue increased 95% in the first quarter, and White is not entirely negative with a Buy on Lyft target of 72% USD and a neutral on Uber with a target price of 53 USD.
Canadian markets closed on the occasion of Victoria Day.
The Federal Reserve Bank of Chicago ver ffentlicht their National Activity Index for April. Consensus estimates are
for a value of 0.08, after -0.15 in March.
hold their annual general meetings in New York and Boston.
Host of its annual general meeting. It will only be online.
The three-day UBS Global Healthcare Conference begins in New York.
are some of the expected companies.
s. and Toll Brothers publish quarterly results.
Chipotle Mexican Grill
hold their annual general meetings in Newport Beach, California or Chicago.
The National Association of Realtors reports inventory data for April. Economists forecast a seasonally adjusted annual rate of 5.3 million, an increase of 2% from March's 5.2 million.
Advance auto parts
Canadian Imperial Bank of Commerce
Lowes target and reporting income.
The Federal Open Market Committee publishes a minutes of its monetary policy meeting, which was completed earlier this month.
holds its annual general meeting in Seattle.
organize their annual general meetings online.
Thermo Fisher Scientific
and LPL Financial Holdings host their analyst days in New York.
Hewlett Packard Enterprise
Publication of quarterly results.
The Census Bureau publishes sales data for new homes for April. It expects a seasonally adjusted annual rate of 678,000 new single-family homes, which is below the 692,000 in March.
reports the US Composite Purchasing Managers Index for May. Consensus estimates are based on 53 readings, approximately even April data.
The Ministry of Labor reports initial jobless claims for the week ending May 18. The expectations relate to 215,000 applications. The four-week moving average is 225,000.
is organizing an Extraordinary General Meeting in Wilmington, Delaware, to approve a stock split. The company aims for a reverse stock split ratio of at least 2 to 5 and at most 1 to 3.
hold their annual general meetings in New York and Purchase, New York.
Whirlpool hosts an Investor Day in New York.
is holding a conference call to discuss revenue.
The Census Bureau publishes its report on durable goods for April. Durable goods orders declined 2%, after rising 2.8% in March. Excluding transport, durable goods orders are expected to grow 0.3%, or even in March.
– Robert Teitelman and Dan Lam