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5 Best TaaS Stocks to Buy Right Now

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.

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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 closed last session at $64.31, increasing 8.39% or $4.98. Shares of the company fluctuated between $59.83 and $65.135 throughout the day. The number of shares exchanged was 8.17 million, greater than the company’s 50-day daily volume of 5.67 million and higher than its Year-to-date volume of 5.91 million. In the past 12 months, the company’s stock has advanced by -69.04%, and in the last week, the stock has moved up 9.22%. For the last six months, the stock has lost a total of -28.27%, and over the last three months, the stock has decreased by -6.32%. The stock has returned -56.81% so far this year.

If we take a glance at the Ownership summary of DoorDash Inc.’s stock, Institutional holders make up 87.70% of its total stock ownership. Altogether, they are the legal holders of 363.96 million shares. Whilst focusing on the top 3 stockholders for this publicly-traded organization, Sequoia Capital owns 35.86 million shares, with SB Investment Advisers (UK) Ltd. in 2nd place owning 33.57 million shares, and T. Rowe Price Associates, Inc. (Investment Management) in third place with total ownership of 25.11 million shares.

FedEx Corporation (FDX)

FedEx Corporation (FDX) stock added 3.06% to finish last trading session at $209.07. The stock recorded a trading volume of 1.74 million shares, which is below the average daily trading volume published for the last 50 days of 1.67 million shares. The shares of FedEx Corporation have advanced by -1.32% in the last five days; however, they have lost -10.06% over the last month. The stock price has shed -3.65% over the last three months and has lost -19.35 percent so far this year. Further, the stock is being traded at a price-to-earnings ratio of 14.48. Additionally, it has a price-to-cash flow ratio of 23.17 and its price-to-sales ratio stands at 0.56.

Citigroup downgraded the FedEx Corporation (NYSE: FDX) stock from Buy to Neutral and set the price target of $225. The rating was come-out on September 06, 2022. Another research note published on July 01, 2022, by Berenberg, downgraded the stock from Buy to Hold and gave a price target of $275 to FDX stock. UBS reiterated the company stock to Buy in a research paper released on June 24, 2022, and set the price target of $312. Analysts at Stifel revealed in a research note on December 17, 2021, said the stock is reiterated to Buy and set the price target of $288. In a research paper which was published recently on December 17, 2021, analysts from Stephens reiterated the FedEx Corporation stock to Overweight and gave a price target of $345.

Uber Technologies Inc. (UBER)

On Friday, shares in Uber Technologies Inc. (UBER) rise 3.59% to close the day at $31.78. The volume of shares traded was 28.01 million, which is lower than the average volume over the last three months of 28.90 million. During the trading session, the stock oscillated between $30.89 and $32.05. The company had an earnings per share ratio of -5.17. UBER’s stock has gained 9.89% of its value in the previous five sessions and -3.11% over the past month, but has lost -24.21% on a year-to-date basis. The stock’s 50-day moving average of $26.83 is above the 200-day moving average of $31.34. Moreover, the stock is currently trading at an RSI of 66.30.

A total of 284.0 insider transactions have happened at Uber Technologies Inc. (UBER) in the last six months, with sales accounting for 161 and purchases happening 123 times. The most recent transaction is an insider sale by West Tony, the company’s See Remarks. SEC filings show that West Tony sold 87,841 shares of the company’s common stock on Aug 04 at a price of 31.26 per share for a total of $2,745,864. Following the sale, the insider now owns 141,944 shares.

Lyft Inc. (LYFT)

Lyft Inc. (LYFT) stock gained 5.47% to close Friday’s session at $18.11. The stock volume remained 26.66 million shares, which was higher than the average daily volume of 14.33 million shares within the past 50 days. LYFT shares have fallen by -64.15% over the last 12 months, and they have moved up by 23.45% in the past week. Over the past three months, the stock has gained 6.91%, while over the past six months, it has shed -51.87%. Further, the company has a current market of $6.06 billion and its outstanding shares stood at 350.53 million.

Lyft Inc. (LYFT) has a 20-day trading average of $16.24 and the current price is -68.60% off the 52-week high compared with a 51.42% distance from its 52-week low. The 50-day simple moving average of the closing price is $15.32 and its 200-day simple moving average is $28.70. If we look at the stock’s price movements over the week, volatility stands at 9.22%, which decreases to 6.27% 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 62.45 to suggest the stock is neutral.

Matson Inc. (MATX)

The stock of Matson Inc. (MATX) gained 3.55% to complete the last trading session at $74.38. The price range of the company’s shares was between $72.80 and $74.38. It traded 0.28 million shares, which was below its daily average of 0.4 million shares over 100 days. MATX’s shares have gained by 1.61% in the last five days, while they have subtracted by -12.15% in the last month. The company has a current dividend yield of 1.67%. Further, it is currently trading at a price-to-earnings ratio of 2.21 and a price-to-book ratio of 1.39. Additionally, the price-to-cash flow ratio stood at 1.92.

Let us now take a look at Matson Inc. (MATX)’s trading volatility. Its 7-day volatility is around 2.59%, while it has a monthly volatility of 3.05%. MATX has an ATR (Average True Range) of 2.77 and a beta factor of 1.24. The volatility of a stock is an indication of the stock’s drop or gain in case the wider market drops or surges. A beta score higher than 1 means that a stock is highly volatile while below 1 means that the volatility of a stock is low.

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