10 Best Tech Stocks Under $50 To Invest In

4. Lyft, Inc. (NASDAQ:LYFT)

Share Price: $14.38

Number of Hedge Fund Holders: 56

Lyft, Inc. (NASDAQ:LYFT) is one of the best tech stocks under $50 to invest in. On July 21, Bernstein increased its price target for Lyft, Inc. (NASDAQ:LYFT) from $16 to $18 and kept a “Market Perform” rating.

The research firm has a generally positive view of Lyft, Inc. (NASDAQ:LYFT) and expects the company’s Q2 2025 results, expected on August 6, to align with guidance and possibly be near the high end of the guidance range.

Bernstein forecasts a 13% increase in gross bookings compared to last year’s gross bookings and $125 million in Adjusted EBITDA for the quarter for Lyft, Inc. (NASDAQ:LYFT). The research firm pointed out that the first quarter had general and administrative cost benefits that are unlikely to continue.

According to Bernstein analysts, the company does not need exceptional quarterly results to improve confidence among investors, suggesting that “a straightforward print with modest upward bias to numbers is probably enough to start establishing a more consistent track record.” This could potentially increase Lyft, Inc.’s (NASDAQ:LYFT) valuation multiple.

Additionally, Bernstein expects the company to give more details about its partnership with May Mobility during the earnings report. However, the firm has moderated expectations about the size and impact of this partnership.

Lyft, Inc. (NASDAQ:LYFT) is an American company that offers ridesharing services, bikes, and scooters in the United States and Canada.