10 Best Delivery Stocks to Buy According to Billionaires

8. Lyft Inc. (NASDAQ:LYFT)

Number of Billionaires: 11

Billionaire Holdings: 746,423,169 

Lyft Inc. (NASDAQ:LYFT) is among the Best Delivery Stocks and the second-biggest ride-sharing service provider in the US and Canada by using the Lyft app to link drivers and passengers. Founded in 2013 and going public in 2019, it provides a range of private automobile trips, including premium, shared, and standard private rides. To provide users with multimodal transportation options, the firm has ventured into the bike and scooter-sharing market in addition to ride-sharing. Its alliances with emerging AV startups such as May Mobility, Mobileye, and Nexar pave the way for future, more beneficial AV alliances.

Lyft Inc. (NASDAQ:LYFT) hit important milestones in 2024, with drivers earning roughly $9 billion, the most in the platform’s history. By recording the fastest average ETAs in the business and cutting pickup times by about a minute over the previous year, the company improved customer service levels. A large cut of Primetime (surge pricing) resulted in savings for riders of almost $400 million. Furthermore, the company produced $766 million in positive free cash flow and became profitable under GAAP for the first time. Lyft Black and Lyft SUV rides jumped by 41% year over year, while rides rose 15% and active users grew 10% in Q4, showing an expansion of high-margin services.

The business also revealed intentions to pay back convertible notes that are due in May 2025 and a $500 million share buyback program, showing its sound financial standing and dedication to increasing shareholder value.