Piper Sandler lowered the firm’s price target on Lyft (LYFT) to $18 from $23 and keeps an Overweight rating on the shares. The firm notes Lyft reported a mixed Q4, with bookings slightly below the low-end of guidance but EBITDA above. The miss was driven by a pricing headwind that started in late Q4 and has persisted through Q1 2025 driven by peer pricing across multiple products.
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