57.00 +0.66 (1.17%)
Pre-Market: 5:13AM EDT
|Bid||56.00 x 1100|
|Ask||57.00 x 1400|
|Day's Range||55.88 - 58.45|
|52 Week Range||55.56 - 88.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||75.94|
Alexandrea Ravenelle, author of 'Hustle and Gig', joins Yahoo Finance to discuss how gig economy workers can prepare for retirement.
Greg Abovsky of Yandex says the company is getting ready for its ride-sharing business to go public, but hasn't "nailed down" the timing. He also outlines differences between Yandex.Taxi and Lyft.
Apr.25 -- Uber Technologies Inc. is planning to start marketing shares in a price range of about $44 to $50 each in its initial public offering, which could value the ride-hailing company at $80 billion to $90 billion, according to people familiar with the matter. Bloomberg's Eric Newcomer reports on "Bloomberg Technology."
Walmart and Uber teamed up last year, for example, while Asia's Grab has expanded to include grocery delivery. Today, though, Lyft is launching a national Grocery Access Program that aims to make healthy food more cheaply and easily accessible to millions of Americans. Some 2.3 million people live in low-income, rural areas more than 10 miles from a supermarket -- without access to affordable and reliable transportation they face a significant barrier to healthy eating.
The valuation sought is less than the $120 billion valuation that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained in its last private fundraising round last year. Uber's moderation of valuation expectations reflects the poor stock performance of its smaller rival Lyft Inc following its IPO last month. Lyft shares ended trading on Thursday down 22 percent from their IPO price amid investor skepticism over its path to profitability.
Speaking with CNBC on Friday in Moscow, Yandex CFO Greg Abovsky declined to specify a timeline for the IPO of Yandex.Taxi — even whether it would come this year — but said the offering remains part of the company's plans. Although Yandex.Taxi and Lyft offer similar services, Abovsky said his company was not overly concerned by the performance of the U.S. outfit. Lyft shares initially sold at a price of $72 at its IPO, but they're now changing hands at about $56.
Uber is planning to pitch shares to investors at an initial range of $44-$50 each, according to people close to the deal, in one of the most widely anticipated initial public offerings in years. Uber is also selling about $500m worth of stock to PayPal in a private placement at the IPO price, according to a person familiar with the matter.
Uber is preparing to reveal its IPO valuation range on Friday, a number that along with Lyft’s and Pinterest’s recent IPOs could translate into $121 million for San Francisco's coffers under a proposed IPO payroll tax.
NEW YORK, NY / ACCESSWIRE / April 25, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against LYFT, Inc. ("LYFT" or the "Company")(NASDAQ: ...
Drivers for ride-hailing companies like Uber and Lyft will be required to pick up and drop off passengers at a central location at Logan International Airport, except for some early morning trips, under a plan adopted Thursday by the Massachusetts Port Authority. The revised plan, which also imposes new fees, mostly prohibits Uber and Lyft from making curbside pickups and drop-offs at terminals, instead funneling rides to Logan's central garage. Massport, which runs the airport, said the plan is meant to help ease traffic congestion at the airport and neighboring East Boston.
LOS ANGELES, CA / ACCESSWIRE / April 24, 2019 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lyft, Inc. (''Lyft'' ...
Facing a “tech IPO earthquake,” San Francisco Supervisor Gordon Mar introduced an IPO tax proposal Wednesday that calls for a higher payroll tax on stock-based compensation.
NEW YORK, NY / ACCESSWIRE / April 24, 2019 / The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased common stock of Lyft, Inc. (''Lyft'' or the ''Company'') ...
CEO Dara Khosrowshahi is looking for a bigger NYC space ahead of the company's long-anticipated IPO.
Below, a few experts with great records in technology weigh in on the false fears, and offer some of their favorite names at the moment. Earnings growth at S&P 500 (SPX) companies will be sluggish at best for the first two quarters of this year. “The U.S. economy appears to have stabilized after a shaky start to the year,” says Mark Zandi, chief economist of Moody’s Analytics.
San Francisco may hike its stock-based compensation tax right as companies like Lyft and Pinterest are going public, the San Francisco Chronicle reported Wednesday. District 4 Supervisor Gordon Mar plans to propose a 1.12% payroll tax on stock-based compensation for the November ballot. San Francisco may hike a corporate tax that includes the value of employee stock options -- right as companies like Lyft LYFT , Pinterest PINS and Uber are going public, the San Francisco Chronicle reported Wednesday.
A venture capital investor says Lyft's valuation doesn't make any sense, but to some it does. Here's how.
Multiple sell-side analysts issued buy recommendations on LYFT Inc (NASDAQ: LYFT ) Tuesday with the expiration of a waiting period for banks that worked on Lyft's IPO to offer advice on the stock. Lyft ...
Thirteen days. That's how long Lyft (NASDAQ:LYFT) was able to stave off its first lawsuit as a publicly-traded entity. The 20% tumble LYFT stock has taken since its IPO, of course, arguably accelerated the advent of the litigation.Source: Shutterstock On Wednesday, two separate class-action lawsuits were filed against ride-hailing company Lyft, on behalf of investors who claim the company's pre-IPO disclosures exaggerated its market share. Both suits were filed in San Francisco, claiming the company exaggerated its market share within the nascent industry.Each complaint also suggested the company willfully didn't warn would-be investors that the electric bikes utilized as part of its bike-sharing service were on the verge of being recalled.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's not an auspicious start. It's also anything but surprising. * 10 High-Yielding Dividend Stocks That Won't Wilt Flimsy ArgumentThe 39% market share Lyft said it had earned since starting operations in 2012 may or may not be an entirely accurate figure.Number-crunching outfit Second Measure pegged the figure at 28.4% of the domestic ride-hailing market as of October of last year, when preparations for the public offering began in earnest. The company calculated rival Uber's U.S. market share at 69.2%. The numbers were 30.3% and 67.3% as of February.The overarching flaw in the legal argument: Second Measure's figures may be tough to validate or verify. The company's M.O. is to "ingest and analyze purchases from millions of anonymized U.S. shoppers to provide a clear and accurate view into any consumer company."In other words, Second Measure didn't actually count each and every one of Lyft's and Uber's rides. The figures are estimates based on sampling of what's still a very fuzzy arena.The plaintiff's attorneys may also face a tough time explaining why they ignored Second Measure's comparable data through February, but chose to believe it rather than Lyft's prospectus after the Lyft IPO was completed. In that vein, Lyft's claim "Our U.S. ridesharing market share was 39% in December 2018, up from 22% in December 2016" is based on data from equally-credible data-analysis outfit Rakuten Intelligence.As for the firm's electric bicycles, as of the March 1st filing date for the disclosure document or even the March 28th launch of LYFT stock, the company may not have known. The bikes' braking problems weren't well known until April 14.To that end, litigant investors may also face a challenge in convincing a judge or jury they were legitimately injured, given Lyft's notice in its prospectus: "Revenue from our network of shared bikes and scooters was not material for the year ended December 31, 2018." Lyft Stock and an Investor Reality CheckThe lawsuit isn't really about market share or electric bicycles, of course. It's about investors searching for a way to offset losses on a gamble that didn't go as hoped.It's not the first time we've seen it. Roughly 12% of newly-IPO'd companies face a securities lawsuit within a year of going public, while almost one-fourth of new companies are sued within six years of their public offering.Some familiar names have faced such legal hurdles too. Facebook (NASDAQ:FB), Blue Apron Holdings (NYSE:APRN) and Snap (NYSE:SNAP) are a small sampling of then-fresh IPOs that prompted shareholder lawsuits, spanning the entire spectrum of merit.Facebook has gone on to become an incredibly rewarding investment, while Blue Apron remains a disaster. Snap is somewhere in between, offering some hope for a bright future, but not on solid footing just yet.The disparate mix of outcomes just within that trio of companies verifies not all class action suits levied against new companies are merited.They still materialize in a big way, however, because the world has become wildly litigious, and investors have allowed themselves to be lured into the hype created by the media, and created by the financial industry in general. Young companies actually have little to do with the hype effect. Bottom Line for LYFT StockWhile the legal argument against Lyft is relatively poor and statistically likely to wind up as a settlement that costs the company less than it would to fight the matter in a courtroom.That doesn't inherently mean Lyft will eventually become profitable though, nor does it mean the bad publicity associated with the suit won't weigh on an already struggling LYFT stock. It simply means that a group of investors, organized by some attorneys, are taking a no-cost shot at putting some money back in their accounts after suffering sizable early losses on a soured trade.Whatever the case, no investor can afford forget that at the end of the day, everyone in the capital markets business is selling something.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 High-Yielding Dividend Stocks That Won't Wilt * 4 Energy Stocks Soaring as Trump Tightens on Iran * 7 Tech Stocks With Too Much Risk, Not Enough Upside Compare Brokers The post Don't Let These Lawsuits Skew Your View of Lyft Stock appeared first on InvestorPlace.
Lyft, Zoom, PagerDuty and Pinterest allpriced above their marketed ranges in splashy public offerings