LYFT Stock Recent News

Lyft expanded its offerings with earned wage access for drivers and a new service for pet owners. The earned wage access offering is one of several new features for the Lyft Direct debit card and banking app designed for drivers and powered by Payfare, the two companies said in a Tuesday (Aug. 27) press release.

In an effort to improve its security measures, Lyft announced Tuesday a new rider verification pilot program to help drivers verify riders' identities and ensure that they are indeed who they say they are.

Nomura upgraded Lyft stock from reduce to neutral. The company's operational improvements and cost-cutting efforts are paying off.

Drivers on the Lyft platform now have access to a host of new features including Lyft Direct Savings, Balance Protection, enhanced cashback rewards, and more SAN FRANCISCO and TORONTO , Aug. 27, 2024 /PRNewswire/ - Lyft, Inc. (NASDAQ: LYFT), one of the largest transportation networks in North America, and Payfare Inc. (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access ("EWA") company powering instant access to earnings and digital banking solutions for workforces, are launching new features for the Lyft Direct debit card and banking app. Lyft Direct is a worry-free, mobile banking solution designed specifically for drivers on the Lyft platform.

I remain buy-rated on Lyft after the stock dropped 17% on soft guidance for 3Q24 and simultaneously achieved its first quarter of GAAP profitability. While I recognize that the Primetime decline is a near-term headwind, I think it'll work in Lyft's favor later on by increasing rider retention due to the consistency in pricing. Lyft's new Price Lock initiative, which works to counteract Primetime headwinds, will help the company turn this negative into a positive.

DraftKings can help Investors profit off the growing $45 billion online sports betting market. This ride-sharing company has made significant improvements, but the stock is still in the gutter.

CEO David Risher is upbeat on Lyft's partnerships, initiatives for women riders, and what he learned from Jeff Bezos.

As Lyft Inc. LYFT navigates through 2024, recent earnings reports and revised guidance have prompted a diverse range of opinions from analysts. The company, which has faced both operational challenges and strategic shifts, is being assessed with varying degrees of optimism and caution by market experts.

Lyft is adding a new feature, making it easier to avoid surge pricing. The rideshare app's Price Lock option is aimed at daily commuters.

LYFT's second-quarter 2024 earnings and revenues improve year over year.