Lyft stock trades at low valuation amid autonomous vehicle partnerships

Analysts have taken a close look at Lyft's stock and say it may be undervalued. The ride-sharing company's shares trade at a much lower price compared to similar companies. Its stock currently sits at $16.22, but analysts believe it could reach $19.43. Lyft's earnings are also expected to grow strongly, rising from $0.69 to $0.99 per share next year. The company reported $1.84 billion in revenue for the second quarter, which is 16% more than the year before. Lyft has also formed partnerships with self-driving car companies Baidu and Waymo. Waymo plans to offer its driverless service in Nashville through Lyft in 2026. However, the growing self-driving industry could also create challenges for Lyft in the future.