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)
DoorDash Inc. (DASH) stock added 0.83% to finish the last trading session at $51.15. The stock recorded a trading volume of 3.08 million shares, which is below the average daily trading volume published for the last 50 days of 5.72 million shares. The shares of DoorDash Inc. have advanced by -11.29% in the last five days; however, they have lost -17.05% over the last month. The stock price has shed -24.17% over the last three months and has lost -76.40 percent so far this year. Additionally, it has a price-to-cash flow ratio of 74.29 and its price-to-sales ratio stands at 3.64.
According to SEC data, total insider shares purchases at the company stands at 91 over the last 12 months, while SEC filings reveal that there have been 682 insider sales over the same period. Insiders have purchased 12,640,569 shares while those sold by company executives and officers stand at 35,893,932. The last 3 months have seen insiders trade a total of 23,410 and 148,522 in purchases and sales respectively.
FedEx Corporation (FDX)
On Tuesday, shares in FedEx Corporation (FDX) rise 1.43% to close the day at $144.95. The volume of shares traded was 4.44 million, which is higher than the average volume over the last three months of 2.79 million. During the trading session, the stock oscillated between $141.9193 and $145.59. The company had an earnings per share ratio of 14.44. FDX’s stock has lost -7.91% of its value in the previous five sessions and -33.56% over the past month but has lost -43.96% on a year-to-date basis. The stock’s 50-day moving average of $212.01 is above the 200-day moving average of $223.01. Moreover, the stock is currently trading at an RSI of 19.12.
The top 3 mutual fund holders in FedEx Corporation are Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market Index. Dodge & Cox Stock Fund owns 10,811,977 shares of the company’s stock, all valued at over $2.28 billion. The company sold 62200.0 shares recently to bring its total holdings to about 4.16% of the shares outstanding. Vanguard PRIMECAP Fund bought 0.2 million shares to see its total holdings expand to 8,860,358 shares valued at over $1.87 billion and representing 3.41% of the shares outstanding. Vanguard Total Stock Market Index bought 13105.0 shares to bring its total holdings to over 6.92 million shares at a value of $1.46 billion. Vanguard Total Stock Market Index now owns shares totaling 2.66% of the shares outstanding.
Uber Technologies Inc. (UBER)
Uber Technologies Inc. (UBER) stock gained 2.53% to close Tuesday’s session at $27.57. The stock volume remained 22.26 million shares, which was lower than the average daily volume of 28.24 million shares within the past 50 days. UBER shares have fallen by -41.65% over the last 12 months, and they have moved down by -12.45% in the past week. Over the past three months, the stock has gained 24.86%, while over the past six months, it has shed -20.71%. Further, the company has a current market of $56.08 billion and its outstanding shares stood at 1.98 billion.
In August 03, 2022, several analysts upgraded their positions on the Uber Technologies Inc. stock and predicted its performance to their investors. The analysts at Raymond James believe UBER is still an Outperform and set the price target of $38. Another analyst that has a Sector weight rating for UBER is KeyBanc Capital Markets. Wedbush resumed its Outperform position on the stock ($38) and Bernstein also resumed their Outperform position on the stock ($45 and $35).
Lyft Inc. (LYFT)
The stock of Lyft Inc. (LYFT) gained 4.73% to complete the last trading session at $14.16. The price range of the company’s shares was between $13.7439 and $14.345. It traded 11.49 million shares, which was below its daily average of 14.17 million shares over 100 days. LYFT’s shares have dropped by -16.06% in the last five days, while they have subtracted -5.41% in the last month. Further, it is currently trading at a price-to-book ratio of 5.13.
Sverchek Kristin, President of Business Affairs, of Lyft Inc. (LYFT), sold 18,885 shares of Lyft Inc. stock in an exchange that took place on Aug 10. The shares were sold at an average price of 20.05 each, amounting to a total Sale worth $378,663. As of the close of the Sale, the President of Business Affairs now directly holds 194,538 shares of the organization’s stock, which is now worth about $2754658.08. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
Matson Inc. (MATX)
Matson Inc. (MATX) stock closed the last session at $63.09, increasing 1.22% or $0.76. Shares of the company fluctuated between $62.23 and $63.6627 throughout the day. The number of shares exchanged was 0.53 million, greater than the company’s 50-day daily volume of 0.37 million and higher than its Year-to-date volume of 0.45 million. In the past 12 months, the company’s stock has advanced by -23.95%, and in the last week, the stock has moved down by -4.41%. For the last six months, the stock has lost a total of -48.16%, and over the last three months, the stock has decreased by -14.07%. The stock has returned -29.92% so far this year. Additionally, the stock is trading at a price-to-earnings ratio of 1.87.
Matson Inc. (MATX) has a 20-day trading average of $69.93 and the current price is -49.66% off the 52-week high compared with 1.91% distance from its 52-week low. The 50-day simple moving average of the closing price is $78.47 and its 200-day simple moving average is $87.84. If we look at the stock’s price movements over the week, volatility stands at 3.11%, which decreases to 3.03% 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 27.28 to suggest the stock is oversold.