5 Best TaaS Stocks to Buy Now

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

Number of Hedge Funds: 153

Uber Technologies, Inc. (NYSE:UBER) is one of the biggest Transport as a Service stocks on the market. The company started in San Francisco, California, and currently operates in 77 countries and 10,500 cities across the world. As of the beginning of 2022, the company covered around 77% of the market share for ride-sharing.

In the first quarter of 2022, Uber Technologies, Inc. (NYSE:UBER)’s revenue jumped 136% compared to the first quarter of 2021, reaching $6.9 billion. The quarterly trips for the company reached around 1.17 billion, an 18% increase compared to the same period in the previous year. This included mobility gross bookings of $10.7 billion and delivery gross bookings of $13.9 billion, which were up by 12% on a YoY basis. Moreover, Uber Technologies, Inc. (NYSE:UBER) generated $6.85 billion in revenue compared to the estimated $6.10 billion.

Fisher Asset Management has been the most prominent stakeholder in Uber Technologies, Inc. (NYSE:UBER) in the first quarter of 2022. The fund increased its activity in the company by 58% and owned 23.796 million shares worth $849 million.

ClearBridge Investments published its “Large Cap Growth Strategy” third quarter 2021 investor letter in the fourth quarter of 2021. Here is what it said about Uber Technologies, Inc. (NYSE:UBER):

“We have also been looking for multi-year secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber Technologies, Inc. (NYSE:UBER) will also be a key player in the transition from internal combustion engines to EVs.”

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