8. Lyft Inc. (NASDAQ:LYFT)
Short Float: 28.29%
Market Cap: $5.64 Billion
Stock Upside Potential: 36.33%
Lyft Inc. (NASDAQ: LYFT) takes the No. 8 spot with a short float of 28.29%, a market capitalization of about $5.64 billion, and upside potential of 36.33%. Lyft is one of the most recognizable names on this list because it operates a multi-modal digital transportation network and remains the second-largest ride-hailing company in the United States.
On May 14, Bernstein SocGen Group reiterated a Market Perform rating on Lyft with a $16 price target after discussions with CEO David Risher and CFO Erin Brewer. The talks focused on autonomous vehicles, pricing power, and Lyft’s hybrid network strategy. Management emphasized a narrower but deeper partner approach, which differs from Uber’s broader autonomous vehicle partnership strategy.
Lyft delivered a strong first quarter, with double-digit year-over-year growth across Active Riders and Gross Bookings. Revenue rose 14% to $1.7 billion, while gross bookings increased 19% to $4.9 billion. The company also achieved $1 billion in cash over the trailing 12 months. While North America Rides growth slowed to mid-single digits, management argued that growth can fluctuate quarter to quarter and pointed to higher-end business-to-business services and international markets as future opportunities. For investors searching for ride-hailing stocks, autonomous vehicle stocks, short squeeze stocks, transportation technology stocks, and most shorted stocks to buy now, LYFT remains a controversial but highly visible name.
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