Lyft Inc. (NASDAQ:LYFT) Stock Upgrade by Goldman Sachs

• Goldman Sachs upgraded Lyft Inc. (NASDAQ:LYFT) to "Buy" from "Neutral" with a new price target of $20, indicating a positive outlook on the company's future.
• Lyft reported earnings of $1.45 billion, slightly below estimates, but exceeded profit expectations with a one-cent per share profit, showcasing operational efficiency.
• The company announced a $750 million share buyback plan, reflecting confidence in its strategic initiatives and focus on innovation and market expansion.

Lyft Inc. (NASDAQ:LYFT), a key player in the ride-sharing industry, has been competing with giants like Uber and Waymo. On May 9, 2025, Goldman Sachs upgraded Lyft's stock rating to "Buy" from "Neutral," with the stock priced at $16.65. This upgrade, reported by Benzinga, underscores Lyft's strong performance despite competitive pressures.

Following the announcement of its first-quarter results, Lyft's stock saw an uptick. The company reported earnings of $1.45 billion, slightly below the $1.47 billion estimate, but exceeded profit expectations with a one-cent per share profit. This was contrary to the anticipated loss, showcasing Lyft's operational efficiency.

Lyft's strategic initiatives, such as a $750 million share buyback plan, have bolstered investor confidence. The company's focus on innovation and market expansion is evident in its record first-quarter metrics, including active riders, rides, and gross bookings. These achievements highlight Lyft's commitment to enhancing user engagement and marketplace health.

Despite the positive outlook, analysts have mixed views on Lyft's future. Needham's Bernie McTernan maintains a Hold rating due to competition from autonomous vehicle technologies. However, Goldman Sachs' Eric Sheridan upgraded the stock to Buy, raising the price target to $20, reflecting optimism about Lyft's growth potential.

Lyft's stock price currently stands at $16.65, marking a 28.08% increase with a $3.65 change. The stock has fluctuated between $14.65 and $16.78 today, with a 52-week high of $19.07 and a low of $8.93. With a market cap of $6.86 billion and a trading volume of 106.34 million shares, Lyft remains a significant player in the NASDAQ market.