How to Buy Lyft Stock
Lyft Inc
Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada.
Lyft stock last closed at $16.34, down 3.43% from the previous day, and has increased 59.88% in one year. It has overperformed other stocks in the Software - Application industry by 0.36 percentage points. Lyft stock is currently +108.15% from its 52-week low of $7.85, and -21.52% from its 52-week high of $20.82.
At the moment, there are 399.81M shares of LYFT outstanding. The market capitalization of LYFT is $6.53B. In the last 24 hours, 17.25M LYFT shares were traded.
How to Buy Lyft Stock
Not sure how to invest in Lyft stock? Here's how.
- Decide where to buy Lyft stock: You need to choose a stock brokerage, but don't worry - we've analyzed dozens of online stock brokerages and apps to help you decide where to buy Lyft stock.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
- Deposit money your brokerage account: Pick your method of payment and add your info.
- Research Lyft stock: The Lyft ticker symbol is LYFT. Is Lyft stock a good investment? Should you buy shares of LYFT? How do LYFT's underlying business fundamentals look? Do top analysts think Lyft is a good buy? Why has LYFT's stock price moved recently? (Hint: Our stock market research website can help you decide if LYFT is a good stock to buy).
- Make your LYFT trade: Decide if you will purchase LYFT shares at the current market price or use a limit order to buy LYFT shares at a particular price.
- Watch your LYFT investment: Create a watchlist to get live updates on your new investment in Lyft stock.
Step 1: Decide where to buy Lyft stock
You will need a brokerage account in order to access the NASDAQ market and buy LYFT shares.
Our preferred brokerage: eToro
In our opinion, eToro is the best place to buy stocks. Here's why:
- You can invest in stocks with 0% commissions: Invest without commissions.
- Buy fractional shares: Even if you don't have the money to buy a full share, you can still buy the stock.
- Access to world financial markets: From Technology to Utilities, New York to Shanghai — you can fill your portfolio with stocks from the world's leading exchanges.
- Social investing: eToro offers a community of more than 20 million users around the world. Talk to, learn from, and copy the unique crypto portfolios of other investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other financial assets: Such as ETFs and cryptos.
Get $10 towards your purchase of shares by opening an account with eToro now.
Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've picked your brokerage, it's time to fill out some personal info so you can invest in LYFT today.
How to Create a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to open a new brokerage account.
- Send your data by hitting the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you've finished signing up on the best stock app, you need to deposit funds:
Watch the video below for more details depositing money into your investment account.
Step 4: Research Lyft stock
Once you have figured out the best place to buy Lyft stock, it's crucial to evaluate their stock prior to investing, so you truly comprehend the risk as well as the upside.
Lyft quick stats
Fundamentals of Lyft
WallStreetZen was designed to help everyday investors perform better fundamental analysis quickly.
You can view all of the due diligence checks on LYFT's stock page.
Is LYFT stock overvalued?
You can use many financial metrics, analyses, models, and charts to gauge LYFT's intrinsic value.
Using relative valuations metrics:
- LYFT could be overvalued based on its P/B ratio of 12.06x, relative to Software - Application industry P/B ratio of 6.53x
You can access more valuation analysis on LYFT's stock here.
LYFT Financial Health Overview
Positive Health Checks:
- LYFT has $1.90B in cash and short term investments. This is sufficient to cover its annual cash burn of $155.47M.
- Total LYFT debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than long-term liabilities on the LYFT balance sheet.
- LYFT has cash burn of 155469000. It has sufficient cash and short-term investments to cover this for at least one year.
- LYFT profit margin has gone up from -38.7% to -7.7% in the past year.
Negative Health Checks:
- LYFT has a relatively high debt to equity ratio of 7.43.
- There are more short-term liabilities than short-term assets on the LYFT balance sheet.
Is Lyft stock a Buy, Hold, or Sell, according to analysts?
Out of 18 Equities analysts who track LYFT, the consensus analyst rating on Lyft is a Hold
Please note that analyst forecasts are not stock recommendations, nor are they investment advice.
Latest LYFT Analyst Upgrades/Downgrades
Ross Sandler, a top 8% analyst from Barclays maintains LYFT with a hold rating and raises their LYFT price target from $14.00 to $17.00, on Feb 15, 2024.
Lloyd Walmsley, a top 1% analyst from UBS maintains LYFT with a hold rating and raises their LYFT price target from $13.00 to $14.00, on Feb 14, 2024.
Doug Anmuth, a top 1% analyst from JP Morgan maintains LYFT with a hold rating and raises their LYFT price target from $11.00 to $13.00, on Feb 14, 2024.
Alexander Potter, a top 3% analyst from Piper Sandler reiterates LYFT with a strong buy rating and raises their LYFT price target from $14.00 to $17.00, on Feb 14, 2024.
Itay Michaeli, a bottom 1% analyst from Citigroup maintains LYFT with a hold rating and raises their LYFT price target from $13.00 to $15.00, on Feb 14, 2024.
You can dig deeper into what analysts are projecting on the Lyft stock forecast page.
LYFT Trading Indicators
LYFT Earnings
Last year, LYFT revenue was $4.40B. During the last five year, LYFT's revenue has grown by 15.35% per year. This was slower than the Software - Application industry average of 27.59%.
Find out more about LYFT's earnings and revenue performance here.
Who is buying/selling LYFT?
In the last year, executives and large shareholders at LYFT have sold more shares than they have bought.
John David Risher, Chief Executive Officer of LYFT, was the latest LYFT insider to sell. They sold $5,297,103.10 worth of LYFT shares on Apr 20, 2024.
Research more about who owns LYFT shares here.
Does LYFT provide a stable income stream?
No, Lyft doesn't provide an income stream by paying out dividends.
What do other traders have to say about LYFT?
One of the major reasons eToro is our highest-rated brokerage is because of its social trading community.
Click below to see what other community members have to say.
Step 5: Make your LYFT trade
There are two primary types of orders:
- Market order: A market order is an order to buy or sell a stock at the best possible price.
Market orders are mostly the easiest way to buy. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to be sure you're buying or selling at a given dollar amount, place a limit order.
Hit the Open Trade button and your broker will place the order.
If you require additional info about buying stocks on eToro, watch the how to video below:
Step 6: Watch your LYFT investment
Now that you own some LYFT stock, you'll want to keep up with your company.
Put LYFT on a watchlist to track the most important metrics related to your LYFT stock.
LYFT Feed
How to Buy Stock in Lyft
To reiterate, here are the 6 steps to buy stock in Lyft:
- Decide where to buy Lyft stock
- Sign up for your brokerage account
- Deposit money your brokerage account
- Research Lyft stock
- Make your LYFT trade
- Watch your LYFT investment
If you need a brokerage, eToro is our recommended option.
Get Started with eToro TodayIf you want to get updates on your new investment in Lyft, hit the button below to create your watchlist.
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