Lyft Stock Pops 19% as Buyback, Ride Metrics Impress Wall Street

Core Insights - Lyft Inc's stock increased by 19.5% to $15.54 following the announcement of a $750 million share buyback program, despite first-quarter revenue missing estimates [1] - The company reported a 16% year-over-year increase in rides, totaling 218.4 million, surpassing forecasts [1] - Gross bookings rose by 13% to $4.16 billion, narrowly beating expectations, while active riders increased by 11% to 24.2 million [1] Stock Performance - Lyft's stock is now trading above its year-to-date breakeven level, marking a 19.5% increase in 2025 [2] - The stock is experiencing its best single-session gain since November and has achieved its fifth consecutive weekly win [2] - The stock has reclaimed support from its 320-day moving average, reaching its highest level since early February [2] Analyst Ratings - Following the report, at least four analysts raised their price targets, with Barclays setting the highest at $20, up from $19 [3] - There is potential for further upward revisions, as 31 out of 39 brokerages covering the stock maintain a "hold" or worse rating [3] Options Activity - Options activity surged, with 89,000 calls and 36,000 puts traded, which is 15 times the average intraday volume [4] - The most popular contract is the weekly 5/9 15-strike call, followed by the 15.50-strike call, with new positions being opened at the latter [4] Sentiment and Short Interest - There is a shift in sentiment among short-term options traders, who have been more bearish than usual [5] - Lyft's Schaeffer's put/call open interest ratio (SOIR) of 0.79 ranks in the 93rd percentile of its annual range, indicating elevated put interest [5] - Short interest is beginning to unwind, with a 1.9% drop in shares sold short, totaling 40.77 million shares, which accounts for 10.3% of Lyft's total float [5]