Lyft: Benchmark Raises Buy Rating, PT Boosted to $26 from $20

Lyft: Benchmark Raises Buy Rating, PT Boosted to $26 from $20

Benchmark Securities has upgraded Lyft (NASDAQ: LYFT) to a "Buy" rating and increased its price target (PT) to $26 from $20, reflecting positive sentiment towards the ride-sharing company's strategic partnerships and operational performance Lyft (NASDAQ:LYFT) Stock Rating Lowered by Wall Street Zen^[1].

The upgrade comes amidst a series of positive developments for Lyft, including a recent partnership with Alphabet's Waymo to bring its autonomous ride-hailing service to Nashville in 2026 Lyft Stock Hit With Multiple Price Target Hikes After Waymo Partnership: Check Out The New Levels^[2]. This collaboration is expected to diversify Waymo's partnerships and position Lyft as a key player in the autonomous vehicle (AV) market.

Benchmark analysts also highlighted Lyft's strong quarterly earnings report, where the company reported $0.10 earnings per share (EPS) and $1.59 billion in revenue, albeit missing analysts' expectations Lyft (NASDAQ:LYFT) Stock Rating Lowered by Wall Street Zen^[1]. The company's revenue growth of 10.6% year-over-year and a return on equity of 14.32% underscore its operational resilience.

Despite the positive outlook, Lyft's stock has experienced volatility, with a 74% year-to-date gain and an 84% increase over the past 12 months Lyft Stock Hit With Multiple Price Target Hikes After Waymo Partnership: Check Out The New Levels^[2]. The company's current consensus rating is "Hold" among analysts, with a consensus price target of $17.33 Lyft (NASDAQ:LYFT) Stock Rating Lowered by Wall Street Zen^[1].

Institutional investors have been active in Lyft's stock, with several hedge funds increasing their stakes in the company Lyft (NASDAQ:LYFT) Stock Rating Lowered by Wall Street Zen^[1]. However, corporate insiders have sold 59,821 shares of Lyft's stock over the last quarter, representing a 3.07% decrease in insider ownership Lyft (NASDAQ:LYFT) Stock Rating Lowered by Wall Street Zen^[1].

Overall, Lyft's strategic partnerships and operational performance have garnered positive attention from analysts, with Benchmark's upgrade reflecting the company's potential for growth in the AV market. However, investors should remain vigilant to the company's ongoing challenges and market volatility.