Lyft drops 2.5% after Guggenheim cut to Neutral

Shares of ride-sharing company Lyft fell 2.5% in the afternoon session on 17 September. The drop followed a downgrade by Guggenheim analyst Taylor Manley, who lowered the stock from Buy to Neutral and cut the firm's price target to $16 from $22. After the initial drop, the stock recovered slightly to $15.35, leaving it down 2.2% from the previous close.

According to Streetinsider, the downgrade reflects a more cautious stance after Manley previously held a Buy rating with a $22 target. A Neutral rating generally indicates expectations that performance will align roughly with peers rather than deliver substantial upside.

Lyft's stock has shown strong volatility, posting 21 moves greater than 5% over the past year. The largest move recorded over the last year occurred 5 months ago, when the shares rose 6.9%. That rally followed sector optimism around autonomous vehicles, including a partnership between Lyft subsidiary Flexdrive and Waymo to manage robotaxis in Nashville, alongside an announcement from competitor Uber Technologies committing over $10 billion to invest in and acquire autonomous vehicles.

Lyft is down 22.5% since the beginning of the year. At $15.35 per share, the stock trades 37.5% below its 52-week high of $24.57 reached in November 2025. An investor who bought $1,000 worth of Lyft shares 5 years ago would hold $294.08 today.