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Barchart
Barchart
Wajeeh Khan

Is Lyft Stock a Buy, Sell, or Hold on $750M Buyback Plans?

Lyft Goldman Sachs Eric Sheridan

Lyft (LYFT) shares soared more than 20% on Friday after the ride-hailing firm reported a strong first quarter and increased its share repurchase authorization to $750 million. 

In Q1, the mobility giant saw a 13% annualized growth in its gross bookings to $4.16 billion while the number of rides increased 16% on a year-over-year basis to 218.4 million – both ahead of Street estimates. 

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