Still, investors are uncertain about how to compare the two. Besides the different components of their businesses, with Uber investing in its freight in addition to meal delivery services on top of ride hailing, their financials are difficult to stack up.
Wedbush Securities analysts gave Lyft a neutral rating on Friday using a 12-month cost target of $80, saying concern which has heard through investors prior to Uber’s S-1 were not eased much currently which which’s public.
“in addition to currently which Uber’s S-1 was released after the close yesterday we think investors don’t yet have a whole lot more clarity on some of the key comparable metrics,” the analysts wrote. “Uber does not break out its metrics between the US in addition to international beyond noting which 52% of bookings in addition to 74% of rides come through outside the US. Additionally, Uber defines its rider metrics by combining both rideshare in addition to Uber Eats riders, so generating metrics like billings per ride, revenue per ride in addition to profit per ride are not fully comparable.”
The analysts tried to approximate how the two compare, saying Uber’s “ridesharing take rate,” defined as revenue over gross bookings, was 22% in 2018 compared with Lyft’s 26%. nevertheless they noted which Uber includes tolls in addition to surcharges in gross bookings, unlike Lyft, in addition to Uber’s numbers were global, which suggests a larger spread of its range.
“We believe there could be continued pressure on Lyft shares while investors wait for Uber’s roadshow in addition to dig further into the full financial metrics,” the Wedbush analysts wrote. “In our opinion, the battle for market share will be balanced going forward. We think there’s plenty of work to do in addition to time to go until investors start to feel like they are missing out on the ‘next Amazon’ although we believe Lyft remains in a strong position to capitalize on This specific fertile market opportunity.”
Subscribe to CNBC on YouTube.
Watch: Here’s everything you need to know about the 300 page Uber IPO filing