Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment

5. LYFT Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 55

LYFT Inc. (NASDAQ:LYFT) provides and manages an online social ride-sharing community platform that offers users access to a nexus of shared rides, scooters, and bikes. The company also offers information about neighboring public transit routes and a view of transportation options when planning a trip through Lyft Rentals.

On April 16, the company undertook the $197 million acquisition of Freenow, a European mobility platform, marking a notable shift in its operational strategy. The acquisition ended LYFT Inc.’s (NASDAQ:LYFT) North America-only focus, broadening its global footprint as Freenow operates across over 150 cities in around nine European countries. It also holds a competitive position in the taxi-hailing segment. The acquisition deal is anticipated to close in late 2025 and would nearly double LYFT Inc.’s (NASDAQ:LYFT) total addressable market to over 300 billion rides per year.

The company’s expansion into international markets has eased investor concerns, setting the stage for recovered interest in the stock. Analysts are thus bullish on the stock, and its median price target of $11.00 implies an upside of 36.36% from current levels. With the global mobility sector continuously developing with autonomous vehicle technology, LYFT Inc. (NASDAQ:LYFT) is one of the best ride-sharing and food delivery stocks to invest in. On April 16, Oppenheimer initiated coverage of the company with bullish sentiments and an Outperform rating, setting a $15 price target.