Lyft (LYFT) Stock

Lyft (LYFT) finished the last trading day at $12.90, which is a decrease of 1.15% compared to the day before.

Lyft is taking legal action against San Francisco, arguing that the city has wrongly imposed more than $100 million in taxes on the ride-hailing service, according to Bloomberg. The lawsuit states that, for five years, San Francisco incorrectly classified the earnings of Lyft drivers as revenue for the company.

Jack Welch, who was the CEO of General Electric for many years in the late 20th century, focused on acquiring the top two companies in any industry when looking to make purchases.

Lyft has filed a lawsuit against San Francisco, claiming that it was wrongly charged $100 million in taxes between 2019 and 2023. The company believes that the city's tax calculation wrongly counts passenger payments as part of its revenue.

Lyft (LYFT 1.46%) is the second-largest ride-sharing company in the U.S., and it has the potential to become a leader in self-driving technology. In this video, Travis Hoium discusses how Lyft's business model may be well-suited for autonomous driving.

Investors looking at Internet Services stocks may have come across Lyft (LYFT) and Shopify (SHOP). However, which of these two stocks currently provides better value for investors?

I'm changing my recommendation for Lyft from sell to buy because I don't see any negative news affecting the stock price, and I believe there are positive developments ahead. I'm paying attention to Lyft's partnerships, especially with DoorDash, and their new advancements in autonomous vehicles, which I think will lead to strong performance in 2025. My main reason for being optimistic about Lyft is their commitment to customer satisfaction, which I believe will help them expand their number of riders.

Lyft (LYFT) finished the latest trading session at $13.58, which represents a decrease of 0.22% compared to the previous day's closing price.

Lyft's financial results for the third quarter of 2024 reveal a 32% increase in revenue and $242.8 million in positive free cash flow, showing solid profitability even with low GAAP profits. The company's goals for 2027 include a 15% yearly growth in gross bookings and a 4% Adjusted EBITDA margin, which could lead to almost $1 billion in free cash flow, or $1.8 billion in a more optimistic scenario. It is unlikely that autonomous vehicles will significantly impact Lyft's main business in the near future, and the company can incorporate them into its current platform if necessary.