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 $13.60, up 9.59% from the previous day, and has increased 19.61% in one year. It has underperformed other stocks in the Software - Application industry by 0.05 percentage points. Lyft stock is currently +53.67% from its 52-week low of $8.85, and -34.68% from its 52-week high of $20.82.
As of Oct 11, 2024, there are 410.16M shares of LYFT outstanding. The market cap of LYFT is $5.58B. In the past 24 hours, 32.1M LYFT shares were traded.
How to Buy Lyft Stock
Wondering how to invest in Lyft stock? Here's how.
- Decide where to buy Lyft stock: You need to decide on a stock brokerage, but don't worry - we've analyzed dozens of stock brokerages and apps to help you choose where to buy Lyft stock.
- Sign up for your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've identified.
- Deposit money your brokerage account: Choose 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 analysis tools can help you evaluate 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 purchase LYFT shares at a given price.
- Watch your LYFT investment: Create a watchlist to important notifications about your investment in Lyft stock.
Step 1: Decide where to buy Lyft stock
You need an online brokerage account to access the NASDAQ market and buy LYFT shares.
Our favorite brokerage: eToro
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've picked the best brokerage, it's time to fill out some personal information so you are able to buy LYFT stock today.
How to Create a New Brokerage 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.
- Provide your personal details to start a new trading account.
- Send your application by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you've created your account on the best stock market app for beginners, you can securely and quickly fund your account:
Watch the video below if you need help transferring money into your investment account.
Step 4: Research Lyft stock
After you have identified the best place to buy Lyft stock, it's very important to analyze their stock before you buy, so you truly wrap your head around the risk as well as the opportunity.
Overview of key LYFT info
Lyft Overview
WallStreetZen was created to help everyday investors do more accurate fundamental analysis in less time.
You can see all of the due diligence checks on LYFT's stock page.
Is LYFT stock undervalued or overvalued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge LYFT's true value.
Using relative valuations ratios:
- LYFT could be overvalued based on its P/B ratio of 9.66x, relative to Software - Application industry P/B ratio of 7.16x
You can access additional valuation research on LYFT's stock here.
LYFT Financial Summary
Positive Health Checks:
- LYFT's operating cash flow of $478.15M allows it to safely service it's debt of $1.12B.
- LYFT profit margin has gone up from -30.9% to -1.3% in the past year.
- There are more short-term assets than long-term liabilities on the LYFT balance sheet.
Negative Health Checks:
- Total LYFT debt is higher than 5 years ago, relative to shareholder equity.
- There are more short-term liabilities than short-term assets on the LYFT balance sheet.
- LYFT earnings of -$27.67M is not sufficient to cover its interest payments.
- LYFT has a relatively high debt to equity ratio of 7.65.
Is it a good time to buy Lyft stock, according to analysts?
Out of 28 Equities analysts who give forecasts on LYFT, the consensus analyst rating on LYFT is a Hold
It's important to note that analyst forecasts are not stock recommendations, nor are they investment advice.
Latest LYFT Analyst Ratings
Itay Michaeli, a bottom 1% analyst from Citigroup maintains LYFT with a hold rating and lowers their LYFT price target from $18.00 to $10.00, on Aug 8, 2024.
Ross Sandler, a top 9% analyst from Barclays maintains LYFT with a hold rating and lowers their LYFT price target from $20.00 to $14.00, on Aug 8, 2024.
John Blackledge, a bottom 5% analyst from TD Cowen maintains LYFT with a hold rating and lowers their LYFT price target from $18.00 to $15.00, on Aug 8, 2024.
Benjamin Black, a top 8% analyst from Deutsche Bank maintains LYFT with a hold rating and lowers their LYFT price target from $15.00 to $11.00, on Aug 8, 2024.
Doug Anmuth, a top 1% analyst from JP Morgan maintains LYFT with a hold rating and lowers their LYFT price target from $18.00 to $15.00, on Aug 8, 2024.
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 $5.10B. Over the last five year, LYFT's revenue has gone up by 11.95% per year. This was slower than the Software - Application industry average of 28.18%.
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 $27,439.68 worth of LYFT shares on Sep 16, 2024.
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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