5 Under-the-Radar Stocks That Are on The Move

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

Upside Potential: 14.07%
Current Price as of July 20: $46.75
52 Week High: $47.90
Number of Hedge Fund Holders: 144

Uber Technologies Inc. (NYSE:UBER) is an under-the-radar stock that has nearly doubled in value as its ever-changing mobility business approaches sustainable growth. The stock is already up by 80% year to date and trading near its 52-week high of $47.90 a share.

The impressive run in the market stems from the company emerging as one of the beneficiaries of generative AI that it is using to enhance its ride-sharing business. The company uses the technology for route planning, demand forecasting, and customer communication.

Generative networks developed by the company have increased data collection, significantly enhancing decision-making processes. As Uber Technologies Inc. (NYSE:UBER) resorts to AI to strengthen its mobility, delivery, and freight edge, analysts on Wall Street remain confident about its long-term prospects.

Consequently, Uber Technologies Inc. (NYSE:UBER) boasts an average price target of $47.90, implying a 14.07% upside potential from current levels.

According to Insider Monkey’s first quarter database, 144 hedge funds were bullish on Uber Technologies, Inc. (NYSE:UBER), compared to 135 funds in the prior quarter. Altimeter Capital Management is the biggest stakeholder of the company, with 13.34 million shares worth $422.77 million.

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

“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.”