Lyft is targeting 15% annual growth in gross bookings through 2027, the ride-hailing firm said at its inaugural investor day, adding that it expects gross bookings from its nascent advertising business to increase eight-fold in the same period. The forecast signals Lyft could maintain its position in the North American ride-sharing market, where it lags Uber, even as both the companies seek to diversify their revenue streams through offerings such as advertising and user subscriptions. Lyft expects $400 million in gross bookings from its advertising business in 2027, Zach Greenberger, executive vice president of Lyft's Partnership Ecosystem, said, compared with $50 million forecast this year.
An analyst restarted a bullish rating for Uber stock, saying the company has the most upside among large internet stocks.
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