5 Best Low Priced Technology Stocks to Buy According to Hedge Funds

3. Lyft Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 59

Lyft Inc. (NASDAQ:LYFT) is one of the best low priced technology stocks to buy according to hedge funds. On May 7, Lyft reported financial results for Q1 2026. Gross Bookings reached $4.9 billion, a 19% increase year-over-year, while revenue grew 14% to $1.7 billion. Net income climbed to $14.2 million, up from $2.6 million in Q1 2025, and Adjusted EBITDA increased 25% to $132.8 million. Free cash flow for the quarter was $287.3 million, bringing the trailing twelve-month total to an all-time high of $1.1 billion.

Operational growth was driven by a 17% year-over-year rise in Active Riders to 28.3 million. Lyft also closed its acquisition of Gett’s UK business, secured its first Baidu vehicles in the UK, and announced that its Nashville Flexdrive autonomous vehicle operations will launch this fall. Additionally, corporate partnerships with brands like Chase, DoorDash, and United Airlines accounted for an all-time high of nearly 27% of rides in North America.

For Q2 2026, Lyft Inc. (NASDAQ:LYFT) expects Gross Bookings to range between $5.30 billion and $5.43 billion, reflecting year-over-year growth of 18% to 21%. The company projects Adjusted EBITDA to be between $160 million and $180 million. This corresponds to an estimated Adjusted EBITDA margin of approximately 3.0% to 3.3% as a percentage of Gross Bookings.

Lyft Inc. (NASDAQ:LYFT) operates a peer-to-peer ridesharing marketplace in the US and Canada. Its platform provides a ridesharing marketplace that connects drivers with riders, a car rental program for drivers, and a network of shared bikes and scooters in various cities to meet riders’ needs for short trips.