Benzinga Survey: Will Uber Or Lyft Stock Grow More By 2025?
Every week, Benzinga conducts a sentiment survey to understand what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
As the world continues to manage the coronavirus pandemic, it’s worth calling into question the future financial viability of ride sharing apps. We recently surveyed a group of over 250 traders and investors on the five-year growth potential of Uber Technologies Inc. (NYSE:UBER) and Lyft Inc. (NASDAQ:LYFT).
Uber Vs. Lyft
Over the next five years, which stock will have the largest percentage gain?
For consumers, Uber and Lyft can be viewed as perfect substitutes for one another. Both companies offer ride sharing services in the US and Canada, and are competing to become the largest alternatives to taxis. Only Uber offers global ride sharing services in the European Union, Africa and Asia, among other global markets.
In recent news, a majority “yes” vote on Prop 22 in the state of California recently allowed Uber and Lyft to be exempt from classifying their drivers as employees. This is seen as a big win for both companies who, as a result, are not required to offer employee benefits like health care.
During this week’s study, Uber received a majority of support from traders and investors, 66.4% to be exact. Uber trades at $45.03 per share as of publishing.
Respondents were less confident about the future price of Lyft, which earned support from just 33.6% of traders and investors. Lyft trades at $29.85 per share.
From a customer satisfaction perspective, Uber has earned 4.7 stars from 1.2 million ratings in Apple’s app stores as of publishing. Uber trails Lyft from a customer satisfaction perspective. Lyft has garnered 4.9 stars from 8.7 million ratings.
This survey was conducted by Benzinga in November 2020 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 250 adults.
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