5 Hot Growth Stocks To Buy Right Now

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

P/E Ratio: 87.77

Avg Volume: 20.32 million

Quarterly Revenue Growth: 15.44%

Number of Hedge Fund Holders: 129

Headquartered in San Francisco, California, Uber Technologies, Inc. (NYSE:UBER) operates technology platforms that connect consumers with independent ride service providers, offering various transportation modes such as public transit, bikes, and scooters. Additionally, Uber provides on-demand food delivery, freight services, business fleet solutions, and same-day delivery options, serving over 142 million monthly active platform consumers across 70 countries.

In the fourth quarter of 2023, Uber Technologies, Inc. (NYSE:UBER) reported a significant 22% year-over-year increase in gross bookings, reaching $37.6 billion, with trips growing by 24% year-over-year to 2.6 billion, averaging approximately 28 million trips per day. On February 7, Uber Technologies, Inc. (NYSE:UBER) announced its fourth-quarter GAAP EPS of $0.66 and revenue of $9.9 billion, surpassing Wall Street estimates by $0.49 and $140 million, respectively.

Out of the 933 hedge funds in Insider Monkey’s Q4 2023 database, 129 had purchased and held shares of Uber Technologies, Inc. (NYSE:UBER). D. E. Shaw’s D E Shaw is the largest hedge fund shareholder, with an investment of $886 million.