The Future Fund LLC Managing Partner Gary Black highlighted Lyft Inc.‘s LYFT record year performance on Tuesday, sharing CEO David Risher‘s announcement about serving 44 million riders across the U.S. and Canada in 2024.
What Happened: The comments came as Lyft reported strong fourth-quarter results , with revenue reaching $1.6 billion, exceeding analyst expectations of $1.56 billion. The company achieved notable growth metrics, including a 15% year-over-year increase in gross bookings to $4.3 billion and a 10% rise in active riders to 24.7 million.
Black, whose Future Fund Active ETF FFND holds positions in Uber Technologies Inc. UBER but not in Lyft, recently addressed the future of ride-hailing platforms in the context of autonomous vehicle networks.
He pointed to Uber’s 170 million monthly active users as a significant market advantage, comparing it to Amazon.com Inc.’s position in e-commerce with its 310 million monthly active users .
Quote of the day – Lyft CEO David Risher: "2024 was a record-smashing year for Lyft. Thanks to our industry-leading service levels, we helped 44 million people across the U.S. and Canada get off their tuchuses." $LYFT
— Gary Black (@garyblack00) February 11, 2025
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Why It Matters: The ride-hailing landscape continues to evolve, with multiple companies advancing their autonomous vehicle strategies. Lyft plans to launch Mobileye Global Inc. MBLY powered robotaxis in Dallas by 2026 .
Uber has partnered with Alphabet Inc.‘s GOOGL GOOG Waymo for driverless rides, while Tesla Inc. TSLA aims to introduce its robotaxi service in Texas and California by 2025.
Risher emphasized the company’s focus on growth, stating, “2025 will be the year we show millions of riders and drivers: You’ve now got a better rideshare choice.” The company recently authorized a $500 million share repurchase program and reported $759.32 million in cash and cash equivalents at the quarter’s end .
Lyft’s consensus price target is $17.84 from 36 analysts, with a high of $26 and a low of $10. The latest ratings from BofA Securities and UBS average $18.67, implying a 45.83% upside.
Price Action: Lyft stock closed at $14.39 on Tuesday, down 4.83%, with an 11.05% after-hours drop. Over the past year, shares have risen 16.05%, according to data from Benzinga Pro .
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Disclaimer : This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
AMZN Amazon.com Inc $232.81 -0.14% Overview Rating: Good 62.5% Technicals Analysis 100 0 100 Financials Analysis 40 0 100 Watchlist Overview FFND The Future Fund Active ETF $28.21 5.14% GOOG Alphabet Inc $187.05 -0.61% GOOGL Alphabet Inc $185.25 -0.65% LYFT Lyft Inc $12.80 -15.3% MBLY Mobileye Global Inc $17.23 -4.12% TSLA Tesla Inc $326.75 -6.84% UBER Uber Technologies Inc $75.60 -3.85% Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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