Lyft's Convertible Senior Notes Offering: Lyft has priced a private offering of $450 million in Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $50 million. The offering is expected to yield approximately $438.8 million in net proceeds after expenses.
Terms and Conditions of the Notes: The notes will not bear regular interest and can be converted into shares of Lyft's Class A common stock at a conversion price of approximately $23.52 per share. Lyft may redeem the notes starting September 20, 2028, under specific conditions.
Use of Proceeds: Lyft plans to allocate around $37.8 million of the proceeds for capped call transactions and approximately $95.7 million to repurchase shares of its Class A common stock. Remaining funds will be used for general corporate purposes and potential acquisitions.
Market Impact and Regulations: The offering is limited to qualified institutional buyers and is not registered under the Securities Act, meaning it cannot be sold in the U.S. without an exemption. The pricing and subsequent hedging activities may influence the market price of Lyft's stock and the notes.
LYFT
$19.19+Infinity%1D
Analyst Views on LYFT
Wall Street analysts forecast LYFT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LYFT is 24.10 USD with a low forecast of 16.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
Wall Street analysts forecast LYFT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LYFT is 24.10 USD with a low forecast of 16.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
21 Hold
1 Sell
Hold
Current: 19.120
Low
16.00
Averages
24.10
High
32.00
Current: 19.120
Low
16.00
Averages
24.10
High
32.00
Jefferies
Hold
downgrade
$23 -> $22
2025-12-11
Reason
Jefferies
Price Target
$23 -> $22
2025-12-11
downgrade
Hold
Reason
Jefferies lowered the firm's price target on Lyft to $22 from $23 and keeps a Hold rating on the shares. The firm recommends staying selective across Internet stocks, as incremental investments could limit margin expansion and concerns around AI disintermediation could limit multiple appreciation, the analyst tells investors in the firm's "2026 Internet Playbook" note.
Wells Fargo
Equal Weight
maintain
$20 -> $26
2025-12-09
Reason
Wells Fargo
Price Target
$20 -> $26
2025-12-09
maintain
Equal Weight
Reason
Wells Fargo raised the firm's price target on Lyft to $26 from $20 and keeps an Equal Weight rating on the shares. The firm notes Lyft is mostly a pure play U.S. rideshare operator, and as such its healthy U.S. rideshare market outlook for 2026 is a clear positive for the stock. Despite this positive industry outlook, Wells remains on the sidelines as it views the recent diversification into non-U.S. assets as dilutive to the multiple and growth rate.
Arete
Sell -> Neutral
upgrade
$20
2025-12-03
Reason
Arete
Price Target
$20
2025-12-03
upgrade
Sell -> Neutral
Reason
Arete upgraded Lyft to Neutral from Sell with a $20 price target.
Guggenheim
Buy
maintain
$24 -> $26
2025-11-18
Reason
Guggenheim
Price Target
$24 -> $26
2025-11-18
maintain
Buy
Reason
Guggenheim raised the firm's price target on Lyft to $26 from $24 and keeps a Buy rating on the shares. After refining the firm's model following Q3 earnings, the analyst tells investors that the firm remains confident in its above-consensus gross bookings, adjusted EBITDA, and free cash flow forecasts in 2026-2027.
About LYFT
Lyft, Inc. is a global mobility platform offering rideshare, taxis, private hire vehicles, car sharing, bikes, and scooters across North America and Europe. It operates across 11 countries and in nearly 1,000 cities, and Lyft Urban Solutions supports bike sharing in 16 countries and more than 86 cities. Its Lyft mobile application (the Lyft App) connects riders with drivers for on-demand ride services and supports a variety of other multimodal mobility solutions. Its offerings on the Lyft App include an expanded set of transportation modes in select cities, such as access to a network of shared bikes and scooters (Light Vehicles) for shorter rides and first-mile and last-mile legs of multimodal trips. FREENOW by Lyft is the European taxi app featuring broad multi-mobility options. Through FREENOW, passengers can access various mobility services within a single app, including taxis, private hire vehicles, car sharing, car rental, e-scooters, e-bikes, e-mopeds, and public transport.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
