Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Lyft, Inc.    LYFT


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Lyft : U.S. tech firms can compensate gig-workers with equity under SEC proposal

11/24/2020 | 09:20pm EST
FILE PHOTO: App-based gig workers hold demonstration outside Los Angeles City Hall to urge voters to vote no on Proposition 22 in California

WASHINGTON (Reuters) - The U.S. securities regulator on Tuesday proposed a pilot program to allow tech companies like Uber and Lyft to pay gig workers up to 15% of their annual compensation in equity rather than cash, a move it said was designed to reflect changes in the workforce.

The Securities and Exchange Commission (SEC) said internet-based companies may have the same incentives to offer equity compensation to gig-workers as they do to employees. Until now, though, SEC rules have not allowed companies to pay gig workers in equity.

The proposal would not require an increase in pay, just create flexibility on whether to pay using cash or equity. It comes amid a fierce debate over the fast-growing gig economy, which labor activists complain exploits workers, depriving them of job security and traditional benefits like healthcare and paid vacations. The SEC's Democratic commissioners said giving tech giants such flexibility would create an uneven playing field for other types of companies.

"Work relationships have evolved along with technology, and workers who participate in the gig economy have become increasingly important to the continued growth of the broader U.S. economy," said SEC Chairman Jay Clayton in a statement.

The proposed temporary rules would allow gig workers to participate in the growth of the companies their efforts support, he added, capped at 15% of annual compensation or $75,000 in three years.

Democratic SEC commissioners Allison Lee and Caroline Crenshaw opposed the move, saying alternative work arrangements, including independent contractors and freelancers, have existed for decades across a range of industries and it was not clear why tech companies should be singled out for special treatment.

"Whatever the potential merits of equity compensation for alternative workers, the proposal does not establish a basis for selectively conferring a benefit on this particular business model," they wrote in a statement.

(Reporting by Michelle Price; Editing by David Gregorio)

By Michelle Price

© Reuters 2020
All news about LYFT, INC.
01/22LYFT : Urges Vaccination Officials to Allow Access for Mobility-Challenged at Dr..
01/19LYFT : UBS Adjusts Lyft's Price Target to $60 From $45, Reiterates Buy Rating
01/18LYFT : Honoring Dr. Martin Luther King Jr.
01/14Driving In Reverse? Uber/Lyft Drivers Seek To Undo California's Proposition 2..
01/14LYFT : An Update on Keeping the Lyft Community Safe in Washington D.C. and Beyon..
01/14LYFT : First Transit To Operate Lyft's Bike Share System In Portland
01/14LYFT : Businesses call on Virginia General Assembly to adopt clean car standards
01/12NEWS HIGHLIGHTS : Top Company News of the Day
01/12LYFT : Some Uber, Lyft drivers sue over California ballot measure
01/12STREET COLOR : Uber and Lyft Reportedly Lobbying Biden Admin for Role in COVID V..
More news
Financials (USD)
Sales 2020 2 357 M - -
Net income 2020 -1 674 M - -
Net cash 2020 1 245 M - -
P/E ratio 2020 -8,91x
Yield 2020 -
Capitalization 15 181 M 15 181 M -
EV / Sales 2020 5,91x
EV / Sales 2021 4,25x
Nbr of Employees 4 786
Free-Float 78,5%
Chart LYFT, INC.
Duration : Period :
Lyft, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LYFT, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 49,57 $
Last Close Price 47,81 $
Spread / Highest target 46,4%
Spread / Average Target 3,69%
Spread / Lowest Target -62,4%
EPS Revisions
Managers and Directors
Logan D. Green Chief Executive Officer & Director
John Zimmer Vice Chairman & President
Prashant Aggarwal Chairman
Brian Roberts Chief Financial Officer
Eisar Lipkovitz Executive Vice President-Rideshare & Engineering
Sector and Competitors
1st jan.Capitalization (M$)
LYFT, INC.-2.69%15 181
NETFLIX, INC.4.52%249 689
PROSUS N.V.12.22%195 756
NASPERS LIMITED18.04%100 389