Arete Research Shifts Lyft Rating Amid Market Reassessment

On December 3, 2025, Arete Research made a notable shift in its stance on Lyft (NasdaqGS:LYFT), elevating the outlook from Sell to Neutral according to Fintel’s latest data. This rating adjustment comes as Wall Street analysts remain cautiously optimistic about the rideshare platform’s trajectory.

Price Targets Signal Moderate Upside Potential

As of mid-November 2025, equity research teams covering Lyft established an average 12-month price target of $24.03 per share, translating to approximately 8.03% upside from the current price level of $22.24. However, the analyst community remains divided, with forecasts spanning a wide range—from as low as $10.10 to as high as $33.60. The variance in outlooks reflects ongoing debate about the company’s growth trajectory.

On the revenue front, projections indicate Lyft will generate approximately $6,241 million in annual revenue, marking a modest 0.52% decline year-over-year. The non-GAAP EPS forecast stands at 3.03.

Institutional Positioning Shows Mixed Signals

The institutional landscape presents a nuanced picture. A total of 948 funds and institutions maintain positions in Lyft, representing a net addition of 33 shareholders in the last quarter—a 3.61% quarterly increase. Portfolio weightings tell an interesting story: the average allocation across all institutional investors is 0.21% of assets, which expanded by 15.81% sequentially.

Interestingly, while fund count increased, aggregate institutional share ownership declined by 4.64% to 423,682 thousand shares over the three-month period. The put/call ratio of 0.48 suggests market participants maintain a predominantly bullish perspective on near-term price action.

Major Shareholders Recalibrate Holdings

Among the largest stakeholders, Ameriprise Financial holds the most substantial position with 31,715 thousand shares (7.94% ownership), having increased its stake by 18.80% from 25,752 thousand shares in the prior period. Notably, the firm amplified its LYFT portfolio allocation by 60.27% last quarter, signaling heightened conviction.

Aqr Capital Management maintains the second-largest institutional holding at 25,783 thousand shares (6.46% ownership), up from 24,010 thousand shares previously—a 6.88% expansion. Despite this absolute increase, the firm actually reduced its percentage portfolio weighting in LYFT by 68.24%, reflecting broader portfolio rebalancing rather than reduced confidence.

The Columbia Seligman Communications and Information Fund (SLMCX) holds 13,583 thousand shares (3.40% ownership), modestly up from 13,476 thousand shares, with relative position weighting increased by 20.96%. The Vanguard Total Stock Market Index Fund maintains 11,825 thousand shares (2.96% stake), slightly elevated from 11,666 thousand shares, with allocation raised 20.07%. Meanwhile, the Vanguard Small-Cap Index Fund holds 9,084 thousand shares (2.27% ownership), down marginally from 9,197 thousand shares, yet paradoxically increased its relative allocation by 22.79%.

These mixed signals from large institutional managers—simultaneous increases in some holdings paired with allocation reductions—suggest sophisticated investors are actively rotating positions while maintaining core exposure to Lyft’s market opportunity.