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Investing.com - Cantor Fitzgerald maintained its Neutral rating and $14.00 price target on Lyft (NASDAQ:LYFT) despite the stock’s recent outperformance following the California Bill agreement. According to InvestingPro data, the stock is currently trading at $18.39, with analyst targets ranging from $10 to $28.
Lyft shares have climbed 14% compared to Nasdaq’s 1% gain since the agreement on the California Bill, according to Cantor Fitzgerald analyst Deepak Mathivanan. The stock has shown remarkable momentum, with InvestingPro data showing a 60.19% surge over the past six months and an impressive 63.18% gain over the last year.
The investment firm believes insurance tailwinds resulting from the legislation should provide "sizable upside" to Lyft’s fiscal year 2026 consensus EBITDA estimates and expects positive analyst revisions in the near term.
Despite these positive factors, Cantor Fitzgerald maintained its cautious stance on the ride-sharing company, citing concerns about future growth trajectory.
The firm specifically noted that Lyft’s bookings growth "is likely to see steady deceleration as U.S. mobility growth moderates with scale," suggesting limited long-term upside potential despite the near-term positive catalysts.
In other recent news, Lyft announced the pricing of $450 million in convertible senior notes due 2030. This private offering is expected to generate approximately $438.8 million in net proceeds after expenses, with an option for initial purchasers to buy an additional $50 million in notes. The transaction is anticipated to close on September 5, 2025. In legislative developments, California lawmakers have backed two bills that could positively impact Lyft and other rideshare companies. Bernstein reiterated its Market Perform rating on Lyft, maintaining a price target of $16.00, viewing these legislative changes favorably. RBC Capital also reiterated an Outperform rating on Lyft, citing growth opportunities in the company’s core ride-hailing business. Additionally, TD Cowen maintained a Buy rating with a $22.00 price target after Lyft’s co-founders, Logan Green and John Zimmer, stepped down from the board, marking the end of a leadership transition. These developments indicate a period of significant activity and potential growth for Lyft.
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