Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment

6. Avis Budget Group, Inc. (NASDAQ:CAR)

Number of Hedge Fund Holders: 35

Avis Budget Group, Inc. (NASDAQ:CAR) is a provider of vehicle sharing and renting services. The company operates in the Americas and International segments. The Americas segment manages car sharing and vehicle renting operations in South America, North America, Central America, and the Carribean. The International segment covers vehicle renting and car sharing in Africa, Asia, Europe, the Middle East, and Australasia.

The company reported $2.7 billion in revenue for fiscal Q4 2024, while revenue for the full year 2024 reached $11.8 billion. Avis Budget Group, Inc. (NASDAQ:CAR) also reported an adjusted EBITDA of $628 million for 2024.

The company is focusing on expediting its fleet rotation, creating higher certainty on its fleet costs back to normalized levels and positioning it to slash maintainenance and repair costs, boost utilization, and provide an improved customer experience while sustainably growing adjusted EBITDA in 2025 and beyond. This strategic initiative thus brings a positive light to the company’s long-term operations.

On April 11, Bank of America Securities analyst John Babcock maintained a Buy rating on Avis Budget Group, Inc. (NASDAQ:CAR) and set a price target of $105.00. It takes the sixth spot on our list of the food delivery and ride-sharing stocks to invest in.