10 Best Debt-Free IT Stocks to Buy Under $10

4. Aurora Innovation Inc. (NASDAQ:AUR)

Ent. Value: $11.3 billion; Market Cap: $12.4 billion

EV to Market Cap: 0.9

Share Price: $7.46

Number of Hedge Fund Holders: 27

Aurora Innovation Inc. (NASDAQ:AUR) is a technology company which focusses on developing autonomous vehicle solutions for freight and passenger transportation. The company is building the Aurora Driver, an AI-powered system for self-driving trucks and cars. The system consists of sensors, software, and hardware, and can be installed in passenger or commercial vehicles to convert them into self-driving cars.

The company partners with leading automotive and logistics companies to advance the adoption of self-driving technology in commercial fleets. While Aurora Innovation Inc. (NASDAQ:AUR) is a development-stage company and has not reported revenue so far, its upcoming commercial launch of Aurora Driver systems on the Dallas-Houston route in April 2025 is a much-awaited catalyst. The company is focusing on trucking, which is a massive market with a $1.0 trillion long-term opportunity.

As of the end of Q4 2024, the company had $1.24 billion in cash on its balance sheet, which was expected to support the planned commercial launch and its operations into the second half of 2026.

In early March, a Morgan Stanley analyst initiated the coverage on Aurora Innovation Inc. (NASDAQ: AUR) with an Overweight rating and a price target of $12. The analyst sees Aurora at a critical moment with commercial driverless revenue set to begin soon, positioning the company as a leader in the autonomous vehicle (AV) revolution. He views autonomous trucking as a major long-term earnings opportunity and believes Aurora is in a strong position to capitalise on it.

Although Aurora has been public for four years, the analyst believes the market is now recognising its leadership in the AV space, with its stock tripling in the last nine months. However, he suggests this could be just the beginning if the company’s long-term growth trajectory plays out as expected.