Jim Cramer Reveals Top 10 Stocks to Watch

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

Number of Hedge Fund Investors: 145

Jim Cramer praised Uber Technologies, Inc. (NYSE:UBER) for its impressive quarter, pointing out that the company’s strong performance underscores the ongoing demand for travel and activities. He emphasized that Uber Technologies, Inc. (NYSE:UBER)’s results reflect how people are still actively moving around and participating in various activities.

“Uber delivered an impressive quarter, demonstrating that people are still going places and doing things.”

Uber Technologies, Inc. (NYSE:UBER) has successfully expanded beyond its core ride-hailing services. Its delivery service, Uber Eats, has experienced notable growth, especially during the COVID-19 pandemic. The expansion of Uber Eats into new international markets and its partnerships with major restaurants have further boosted revenue. Additionally, Uber Freight and its Advanced Technologies Group are positioned to benefit from logistics and autonomous driving growth, respectively.

The acquisition of Postmates in 2020 enhanced Uber Eats’ delivery network and increased its market share in the U.S. In 2021, Uber acquired Drizly, an alcohol delivery service, adding to its range of offerings. Uber Technologies, Inc. (NYSE:UBER)’s advancements in autonomous vehicle technology and its development of the Uber Elevate aerial ride-sharing initiative highlight the company’s commitment to innovation.

Uber Technologies, Inc. (NYSE:UBER) is also focusing on expanding its presence in growth markets like Latin America and Asia. Financially, Uber Technologies, Inc. (NYSE:UBER) has shown improvement, with increased revenues and reduced losses. Uber Technologies, Inc. (NYSE:UBER)’s recent earnings reports reflect progress towards achieving profitability, including advancements toward positive adjusted EBITDA.