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The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Shares of Lyft have continued to crash in 2025, pushing the stock to a very cheap ~8x adjusted EBITDA and ~4x FCF multiples. I'm upgrading Lyft to a strong buy, especially on the back of strong Q4 results that showed record-breaking bookings at a 15% y/y growth pace. Lyft's pure rideshare focus is more recession-proof than Uber (as delivery orders are more discretionary), offering stable demand amid potential economic downturns.
Lyft plans to start adding autonomous vehicles (AVs) to its ridesharing platform as soon as this summer.
Lyft (LYFT) reachead $11.72 at the closing of the latest trading day, reflecting a +1.65% change compared to its last close.
Washington state lawmakers have abandoned an attempt to limit the cost of ride-hailing fares during large public events.
Lyft (LYFT -4.32%) has long been the No. 2 in ridesharing, but the company has now built a nice business with optionality to grow in the core business and autonomy.
"Millions of consumers rely on Uber," says @LikeFolio's Megan Brantley, which she considers an excellent indicator that Uber Technologies (UBER) remains in good health. Autonomous driving became the biggest disruption to its business, but Megan says the company can leverage that evolving tech through partnerships.
On March 13, the S&P 500 finished the day down 10% from its previous all-time high. This officially pushed the stock market into what's known as "correction" territory, even if this is a misnomer.
Lyft's stock is undervalued, trading at a steep discount to Uber, despite achieving GAAP profitability and maintaining a strong balance sheet. Wall Street appears concerned with the company's relative underperformance to Uber. Autonomous vehicles pose a significant risk, but at a 0.75x sales multiple, Lyft's valuation appears attractive with a fair value estimate of $17 per share.
With Lyft shares moving south, we asses the investment worthiness of the stock at current levels.