Analysts Identify 10 Least Risky Internet Stocks To Invest In

6. Lyft, Inc. (NASDAQ:LYFT) 

Lyft, Inc. is a ride-sharing company that operates a peer-to-peer marketplace for on-demand ridesharing. The company’s platform offers a ridesharing marketplace that links riders with drivers. It also provides Express Drive, which is a car rental program for drivers.

Through recent partnerships with key industry players, the firm plans to launch autonomous vehicles on its platform this summer. Despite drivers’ concerns related to the earnings potential, Lyft’s EVP of Driver Experience, Jeremy Bird, highlights that ride-sharing is a growing market. He believes that incorporating autonomous vehicles (AVs) will increase demand, enhance the ride experience, and benefit drivers.

The stock has been facing some challenges so far this year as it has declined by over 15%. Despite the recent decline in share price, it presents an attractive upside of 102% if one considers analyst price targets. Based on 47 analyst ratings, the company has a highest target price of $22, which means it could potentially more than double from the current levels. The recent decline in share price presents an attractive buying opportunity to benefit from the potential upside in the future.