14 Best American Tech Stocks to Buy Now

7. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 166

Uber Technologies, Inc. (NYSE:UBER) is an American multinational company that provides a range of services, including ride-hailing, food delivery through Uber Eats, courier services, and freight transport. The company operates in thousands of cities across 70 countries around the world. Uber Technologies, Inc. (NYSE:UBER) is one of the best American stocks to invest in.

The company is making strategic moves to improve customer loyalty and drive engagement across its platforms with subscription-based services. Uber Technologies, Inc. (NYSE:UBER) offers a paid membership program known as Uber One, which offers benefits like savings on both Uber rides and Uber Eats deliveries. In Q4 2024, the company successfully added 5 million new members to reach a total of 30 million members. This marks an increase of nearly 60% year-over-year. Uber Technologies, Inc. (NYSE:UBER) launched Uber One membership plans in 6 new countries during the quarter to bring the total number of countries with Uber One membership plans to 34. The company also introduced Uber One for Students to new countries across the EMEA, APAC, and LatAm regions.

Hardman Johnston Global Advisors, an investment management company, stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its “Hardman Johnston Global Equity” Q4 2024 investor letter:

“During the quarter, we initiated three new positions in Lennar Corporation, Bank of America Corp., and Uber Technologies, Inc. (NYSE:UBER). Uber is a leading platform company that facilitates ride-hailing, food delivery, and freight booking services, which each represent large and underpenetrated markets. Uber is active in more than 10,000 cities and approximately 70 countries globally, and Uber is a market leader with more than 65% market share in nearly all ride-sharing regions in which it operates. Uber should continue to benefit from secular tailwinds, product innovation, expansion, and network effects. The cross-selling of the Uber One membership program should drive both loyalty and engagement. International markets represent half the business and continue to be an important growth driver. Overall, we see sustained healthy topline growth for the company over the next three years with some insulation to global economic trends.”