Uber’s stock has ripped to all time highs this year, while Lyft withstood a slow, steady bounce back after bottoming—along with the rest of the market— at $14.56 a share on March 16. Analysts expect Uber’s sales in 2021 to surpass its pre-pandy sales in 2019, due in large part to Uber Eats for showing up when it counts throughout the quarantine. Golf clap.
Uber is forecasted to bring in five times as much revenue this year as Lyft. Furthermore, Uber is also expected to bump up sales enough in 2021 to exceed its pre-pandy sales in 2019. Lyft isn’t expected to reach that until 2022. Both companies are expected to show high double-digit sales growth numbers over the next two years. [Hey Lyft, How’d 2020 Go?]
Among sell-side analysts polled by FactSet, the estimate is for Uber to keep running at a GAAP-loss until Q4 2022. Among the analysts, 80% rate Uber “buy” or the equivalent. However, the consensus price target is $51.65, below the closing price of $53.79 on December 9.
While Lyft is expected by the Street to continue posting quarterly GAAP-net losses through 2022. Among the analysts, 61% rate the stock a buy, with a target of $44.89, below Lyft’s closing price of $47.53 on December 9. [Uber Unloads Self-Driving Unit to Aurora]