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 $10.54, up 0.29% from the previous day, and has decreased 21.81% in one year. It has underperformed other stocks in the Software - Application industry by 0.34 percentage points. Lyft stock is currently +34.27% from its 52-week low of $7.85, and -42.59% from its 52-week high of $18.36.
At the moment, there are 386.24M shares of LYFT outstanding. The market capitalization of LYFT is $4.07B. In the last 24 hours, 8.44M 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.
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- 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.
- Input your personal details to open a new brokerage account.
- Send your data by hitting the "Create Account" button.
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 10.52x, relative to Software - Application industry P/B ratio of 5.62x
You can access more valuation analysis on LYFT's stock here.
LYFT Financial Health Overview
Positive Health Checks:
- LYFT has $2.06B in cash and short term investments. This is sufficient to cover its annual cash burn of $219.42M.
- LYFT has cash burn of 219423000. It has sufficient cash and short-term investments to cover this for at least one year.
- There are more short-term assets than long-term liabilities on the LYFT balance sheet.
Negative Health Checks:
- There are more short-term liabilities than short-term assets on the LYFT balance sheet.
- LYFT profit margin has gone down from -25.9% to -30.9% in the past year.
- LYFT has a relatively high debt to equity ratio of 10.49.
Is it a good time to buy Lyft stock, according to analysts?
Out of 11 Equities analysts who give forecasts on LYFT, the consensus analyst rating on LYFT is a Buy
It's important to note that analyst forecasts are not stock recommendations, nor are they investment advice.
Latest LYFT Analyst Ratings
Brad Erickson, a top 7% analyst from RBC Capital reiterates LYFT with a hold rating and maintains their LYFT price target from $12.00 to $12.00, on Sep 5, 2023.
Rob Sanderson, a bottom 28% analyst from Loop Capital maintains LYFT with a hold rating and raises their LYFT price target from $9.00 to $12.00, on Aug 14, 2023.
Tom White, a bottom 9% analyst from DA Davidson maintains LYFT with a hold rating and raises their LYFT price target from $9.75 to $11.50, on Aug 10, 2023.
Stephen Ju, a top 3% analyst from Credit Suisse maintains LYFT with a buy rating and lowers their LYFT price target from $23.00 to $18.00, on Aug 9, 2023.
Brent Thill, a top 1% analyst from Jefferies maintains LYFT with a hold rating and raises their LYFT price target from $9.00 to $11.00, on Jul 25, 2023.
You can dive deeper into what analysts are projecting on the Lyft stock forecast page.
LYFT Technical Indicators
LYFT Growth Metrics
Last year, LYFT revenue was $4.25B. Over the last four year, LYFT's revenue has gone up by 10.05% per year. This was slower than the Software - Application industry average of 32.74%.
Learn more about LYFT's earnings and revenue performance here.
Who is buying/selling LYFT?
Over the past year, executives and large shareholders at LYFT have sold more shares than they have bought.
John Patrick Zimmer, Director of LYFT, was the latest LYFT insider to sell. They sold $168,748.27 worth of LYFT shares on Sep 15, 2023.
Research more about who owns LYFT stock here.
Can I rely on LYFT as an income stream?
No, Lyft doesn't provide an income stream by paying out dividends.
LYFT Social Trading Data
One of the biggest reasons eToro is our favorite brokerage is because of its social trading community.
Click below to see what other investors 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 security at the best price on the market.
Market orders are mostly the best for newer investors. - Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a given dollar amount limit, use a limit order.
Hit the Open Trade button and your broker will execute the order.
If you want more info about investing in stocks on eToro, click the helpful video below:
Step 6: Watch your LYFT investment
Now that you own some shares in LYFT, you'll want to keep up with your shares.
Add LYFT to a watchlist to get notified of important updates regarding your LYFT stock.
LYFT Feed
How to Buy Stock in Lyft
To summarize, here are the 6 steps you need to take to buy Lyft stock right now:
- 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 require a brokerage, eToro is our favorite venue.
Get Started with eToro TodayIf you want to keep track of your investment in Lyft, click the button below.
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