TaaS stock refers to a financial asset sold by a public company in the transportation as a service field. Before we look into some examples, let’s explain what the industry revolves around. TaaS is a new mindset. It involves relying on a third party to solve your transportation needs. It can mean taking a rented vehicle, hiring a taxi/public transportation alternative, and much more.
According to O.P. Agarwal, World Bank and chairman of the Transportation Research Board Committee on Transport in Developing Countries, trends like telecommuting, e-commerce, and online shopping might change the way in which we perceive urban transportation. These trends are likely to change the nature of traditional car ownership while creating a larger market for TaaS companies.
The projected growth of TaaS stock value in the next 12 months is solid, and the current prices are comparatively low, which might just signify the right time to buy. Still, it’s not just about buying TaaS stock or not. It’s also about finding the right TaaS companies to invest in.
In this article, Stocks Telegraph is presenting you the 5 best TaaS companies stocks to buy right now.
DoorDash Inc. (DASH)
The stock of DoorDash Inc. (DASH) completed the last trading session at $52.99. The price range of the company’s shares was between $51.79 and $54.06. It traded 2.38 million shares, which was below its daily average of 5.61 million shares over 100 days. DASH’s shares have gained by 6.32% in the last five days, while they have subtracted -10.37% in the last month. Further, it is currently trading at a price-to-book ratio of 2.60. Additionally, the price-to-cash flow ratio stood at 74.71.
Goldman rated the DoorDash Inc. (NYSE: DASH) stock “Neutral”. Goldman’s estimates were contained in a research note released on Tuesday, June 21, 2022. Several other experts on Wall Street have posted such reports regarding the DASH shares. According to Raymond James, the stock is “an Mkt perform,”. Raymond James published their figures in a research note released to investors on Monday, June 06, 2022. Other experts at Bernstein have the stock’s price target at $90 price; with their rating of the stock as “an Outperform.”. These scores were published in a research note the firm released on Tuesday, May 24, 2022.
FedEx Corporation (FDX)
FedEx Corporation (FDX) stock closed last session at $155.19, decreasing -1.07% or -$1.68. Shares of the company fluctuated between $154.815 and $158.00 throughout the day. The number of shares exchanged was 4.25 million, greater than the company’s 50-day daily volume of 3.59 million and higher than its Year-to-date volume of 2.77 million. In the past 12 months, the company’s stock has advanced by -30.78%, and in the last week, the stock has moved up 1.89%. For the last six months, the stock has lost a total of -23.93%, and over the last three months, the stock has decreased by -32.67%. The stock has returned -40.00% so far this year. Additionally, the stock is trading at a price-to-earnings ratio of 11.41.
Carere Brie, EVP/Chief Customer Officer, of FedEx Corporation (FDX), sold 11,235 shares of FedEx Corporation stock in an exchange that took place on Aug 12. The shares were sold at an average price of 228.85 each, amounting to a total Sale worth $2,571,081. As of the close of the Sale, EVP/Chief Customer Officer now directly holds 16,366 shares of the organization’s stock, which is now worth about $2539839.54. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
Uber Technologies Inc. (UBER)
Uber Technologies Inc. (UBER) stock added 1.88% to finish the last trading session at $29.73. The stock recorded a trading volume of 25.4 million shares, which is below the average daily trading volume published for the last 50 days of 28.41 million shares. The shares of Uber Technologies Inc. have retreated 12.53% in the last five days; however, they have lost -1.00% over the last month. The stock price has surged 33.08% over the last three months and has lost -36.76 percent so far this year. Additionally, it has a price-to-cash flow ratio of 87.33 and its price-to-sales ratio stands at 2.30.
Uber Technologies Inc. (UBER) has a 20-day trading average of $29.69 and the current price is -39.18% off the 52-week high compared with a 49.43% distance from its 52-week low. The 50-day simple moving average of the closing price is $29.60 and its 200-day simple moving average is $30.50. If we look at the stock’s price movements over the week, volatility stands at 4.63%, which decreases to 4.60% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 53.58 to suggest the stock is neutral.
Lyft Inc. (LYFT)
On Thursday, shares in Lyft Inc. (LYFT) fell -0.36% to close the day at $13.70. The volume of shares traded was 9.2 million, which is lower than the average volume over the last three months of 14.29 million. During the trading session, the stock oscillated between $13.43 and $14.23. The company had an earnings-per-share ratio of -2.77. LYFT’s stock has gained 1.63% of its value in the previous five sessions and -6.74% over the past month but has lost -67.94% on a year-to-date basis. The stock’s 50-day moving average of $16.00 is above the 200-day moving average of $26.28. Moreover, the stock is currently trading at an RSI of 41.58.
SJUNDE AP-FONDEN bought a fresh place in Lyft Inc. (NASDAQ: LYFT). The institutional investor bought 26.1 thousand shares of the stock in a transaction that took place on 7/29/2022. In another most recent transaction, which was held on 8/31/2022, NORTHERN TRUST GLOBAL INVESTMENT bought approximately 11.3 thousand shares of Lyft Inc. In a separate transaction that took place on 9/08/2022, the institutional investor, STATE STREET GLOBAL ADVISORS LTD bought 10.6 thousand shares of the company’s stock. The total Institutional investors and hedge funds own 79.70% of the company’s stock.
Matson Inc. (MATX)
Matson Inc. (MATX) stock gained 1.63% to close Thursday’s session at $66.07. The stock volume remained at 0.31 million shares, which was lower than the average daily volume of 0.39 million shares within the past 50 days. MATX shares have fallen by -20.16% over the last 12 months, and they have moved up by 7.43% in the past week. Over the past three months, the stock has lost -9.32%, while over the past six months, it has shed -26.02%. Further, the company has a current market of $2.57 billion and its outstanding shares stood at 39.90 million.
Multiple groups of Wall Street analysts have recently been drawn to the MATX stock, with those at Wolfe Research Initiating the stock to “an Underperform”. The analysts released their assessment via a research note they published on August 16, 2022. Analysts at Stifel maintained their earlier rating, although they did drop the stock’s price target to $93 from $131. Over at Stephens, the analysts restated the earlier stance about Matson Inc. shares, rating the shares “an Equal-weight.” in a note released on April 29, 2021. The analysts have also fallen their price target for MATX from $80 to $70.