Lyft Analyst Says 'Buy Into The Story' Despite Tesla, Waymo Competition

Alright, listen up, tech investors! I've got a hot tip for you: Lyft (LYFT) is a stock you should be keeping an eye on, even with the likes of Tesla (TSLA) and Waymo (a subsidiary of Alphabet Inc.) nipping at its heels. Now, I know what you're thinking: "Lyft? Isn't that just a ride-sharing company?" Well, yes, but it's also a company that's making some serious moves in the autonomous vehicle (AV) space, and that's what we're going to talk about today.

First things first, let's address the elephant in the room: competition. Tesla and Waymo are both big players in the AV game, and they're not going to give up their market share without a fight. But here's the thing: Lyft is not just sitting back and letting them have their way. The company has been busy forging partnerships with some heavy hitters in the AV industry, and these collaborations could give Lyft a significant edge in the market.



Take, for example, Lyft's partnership with Mobileye, a leader in self-driving tech and advanced driver assistance systems (ADAS). This collaboration will make Lyft's scaled rideshare platform available to all vehicles with Mobileye’s self-driving technology, giving fleet operators seamless access to Lyft’s network of riders. This is a game-changer, folks! It's like having your own personal distribution channel for AVs, and it's a smart move by Lyft to stay ahead of the curve.

But that's not all. Lyft has also partnered with May Mobility, a company that specializes in deploying AVs directly to the Lyft platform. Starting in 2025, riders in Atlanta will have the opportunity to be matched with a fleet of autonomous Toyota Sienna minivans equipped with May Mobility’s autonomous technology. Talk about a win-win! Lyft gets to expand its AV offerings, and riders get to experience the future of transportation.

And if that wasn't enough, Lyft has also teamed up with Nexar, a company that specializes in harnessing the power of aggregated, anonymized marketplace and fleet data to help OEMs and AV companies build better and safer autonomous technology. By pairing Lyft data with Nexar's hundreds of millions of hours of video footage, we can jointly contribute to a more complete data set for autonomous research and development. This is a smart move by Lyft, as it will not only improve its AV technology but also make its platform more attractive to riders and fleet operators.

Now, I know what you're thinking: "This all sounds great, but what about Lyft's revenue growth compared to its competitors?" Well, let's take a look at the numbers.



In 2023, Lyft's revenue was $4.40 billion, an increase of 7.53% compared to the previous year's $4.10 billion. While this growth rate may not seem as impressive as Tesla's or Waymo's, it's important to remember that Lyft's core business is ride-sharing, not AV technology. However, Lyft has been investing in AV technology and partnerships to stay competitive in the market, and these efforts are paying off.

So, what's the takeaway here? Lyft is a company that's making some serious moves in the AV space, and its partnerships with Mobileye, May Mobility, and Nexar could give it a significant edge in the market. While competition from Tesla and Waymo is fierce, Lyft is not backing down. In fact, the company is doubling down on its AV efforts and positioning itself as a leader in the industry.

Now, I know that investing in tech can be a bit like navigating a minefield, but sometimes you just have to trust your instincts and go with your gut. And my gut is telling me that Lyft is a stock worth watching, even with the competition nipping at its heels. So, if you're looking for a tech stock that's poised for growth in the AV space, Lyft might just be the one for you. But remember, folks, this is a subjective opinion, and you should always do your own research before making any investment decisions. Happy investing!