Lyft, Inc. (LYFT) shares are soaring in intraday trading, jumping 5.05% as investors respond positively to recent analyst updates. The ride-hailing company's stock has garnered increased attention following its strong earnings report earlier this month.

The surge in Lyft's stock price comes as multiple analysts have raised their price targets for the company in recent days. This wave of optimistic revisions follows Lyft's impressive financial results, which exceeded market expectations and demonstrated the company's improving operational efficiency.

While specific details of the analyst reports are not provided, the market's reaction suggests growing confidence in Lyft's business model and future prospects. The company's ability to deliver strong earnings in a challenging economic environment has apparently reassured investors and analysts alike, potentially setting the stage for continued positive momentum in the stock.