5 Stocks Under $50 Billionaires Are Loading Up On

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

Number of Billionaire Holders: 21

San Francisco, California-based, Uber Technologies, Inc. (NYSE:UBER) provides technology platforms matching consumers looking for rides and independent ride services providers. It also offers other forms of transportation including public transit, bikes, and scooters. Other offerings include food delivery on demand, freight services, business fleet services, and same day delivery options.

On June 12, Truist Securities analyst Youssef Squali raised the price target on Uber Technologies, Inc. (NYSE:UBER) shares to $63 from $60 and maintained a ‘Buy’ for the shares.

As of Q1 2023, Uber Technologies, Inc. (NYSE:UBER) was ranked highest on our list of stocks under $50 that billionaires are loading up on. The stock was held by 21 billionaires with the total amount of billionaire investment valued at $1.1 billion. The stock was also a favorite among hedge funds as 144 hedge funds held shares of the company valued at $5.7 billion.

RiverPark Advisors, an investment advisory firm, made the following comment about Uber Technologies, Inc. (NYSE:UBER) in its Q1 2023 investor letter:

“UBER remains the undisputed global leader in ride sharing, with a greater than 50% share in every major region in which it operates. The company is also a leader in food delivery, where it is number one or two in the more than 25 countries in which it operates. Moreover, after a history of losses, the company is now solidly profitable with the potential for substantial margin expansion and free cash flow generation to come.”

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