Lyft股价暴跌，乘车量增长乏力，长期目标受到质疑

Core Viewpoint - Lyft's stock price dropped by 13% due to concerns over slowing ride volume growth, which raises doubts about the company's ability to achieve long-term profitability goals [2][5]. Group 1: Financial Performance - Lyft reported 945.5 million rides in 2025, falling short of Visible Alpha's estimate of 958.4 million rides [6]. - The fourth quarter, typically a peak season for ride demand, saw Lyft complete 243.5 million rides, below market expectations of 256.3 million rides [6]. - The annual growth rate of rides decreased from 18.5% in 2023 to 14.2% in 2025, raising questions about demand growth in North America [6]. Group 2: Strategic Initiatives - Despite improving profit margins and engaging in international expansion, Lyft faces ongoing competitive pressure from larger rival Uber [2][5]. - Lyft's recent acquisition of Freenow aimed to expand its business into Europe, reducing reliance on the North American market [6]. - To achieve a target EBITDA margin of 4% by 2027, Lyft must execute a premium strategy, integrate updated adjacent businesses, and scale its white-glove ride service [2][5]. Group 3: Market Position - Lyft's stock performance lags behind Uber, with Lyft's expected earnings at approximately 23.7 times earnings compared to Uber's 20.8 times [6].