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.
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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.
United Parcel Service Inc. (UPS)
The stock of United Parcel Service Inc. (UPS) gained 2.62% to complete the last trading session at $163.66. The price range of the company’s shares was between $154.8718 and $164.82. It traded 2.57 million shares, which was below its daily average of 3.01 million shares over 100 days. UPS’s shares have dropped by -1.17% in the last five days, while they have subtracted -14.30% in the last month. The company has a current dividend yield of 3.72%. Further, it is currently trading at a price-to-earnings ratio of 13.13 and a price-to-book ratio of 8.78. Additionally, the price-to-cash flow ratio stood at 22.25.
COHO PARTNERS LTD. bought a fresh place in United Parcel Service Inc. (NYSE: UPS). The institutional investor bought 229.7 thousand shares of the stock in a transaction that took place on 9/30/2022. In another most recent transaction, which was held on 8/31/2022, HSBC GLOBAL ASSET MANAGEMENT (HO bought approximately 57.3 thousand shares of United Parcel Service Inc. In a separate transaction that took place on 10/05/2022, the institutional investor, AMUNDI ASSET MANAGEMENT SA (INVE bought 56.3 thousand shares of the company’s stock. The total Institutional investors and hedge funds own 72.90% of the company’s stock.
FedEx Corporation (FDX)
FedEx Corporation (FDX) stock closed last session at $156.25, increasing 2.20% or $3.36. Shares of the company fluctuated between $148.93 and $158.04 throughout the day. The number of shares exchanged was 2.99 million, less than the company’s 50-day daily volume of 3.93 million and higher than its Year-to-date volume of 2.82 million. In the past 12 months, the company’s stock has advanced -30.16%, and in the last week, the stock has moved up 0.68%. For the last six months, the stock has lost a total of -24.26%, and over the last three months, the stock has decreased by -28.27%. The stock has returned -39.59% so far this year. Additionally, the stock is trading at a price-to-earnings ratio of 11.49.
Morgan Stanley reiterated the FedEx Corporation (NYSE: FDX) stock to Equal-Weight and set the price target of $125. The rating came out on September 27, 2022. In another research note published on September 23, 2022, by Evercore ISI, reiterated the stock to Outperform and gave a price target of $225 to FDX stock. Cowen reiterated the company stock to Outperform in a research paper released on September 23, 2022 and set a price target of $185. Analysts at Stifel revealed in a research note on September 16, 2022, said the stock is downgraded from Buy to Hold and set the price target of $195. In a research paper that was published recently on September 16, 2022, analysts from Loop Capital downgraded the FedEx Corporation stock from Buy to Hold.
DoorDash Inc. (DASH)
DoorDash Inc. (DASH) stock subtracted -1.73% to finish the last trading session at $45.91. The stock recorded a trading volume of 8.57 million shares, which is below the average daily trading volume published for the last 50 days of 5.82 million shares. The shares of DoorDash Inc. have advanced -13.36% in the last five days; however, they have lost -28.85% over the last month. The stock price has shed -34.51% over the last three months and has lost -77.65 percent so far this year. Additionally, it has a price-to-cash flow ratio of 68.90 and its price-to-sales ratio stands at 3.37.
Now let’s turn our focus to how large-scale investors are working with this stock of the Internet Content & Information Industry. Apple Inc.’s current insider ownership accounts for 0.50%, in contrast to 87.70% institutional ownership. According to the most recent insider trade that took place on Oct 06, this organization’s Director, sold 1,250 shares at the rate of 53.27, making the entire transaction reach $66,588 in total value, affecting insider ownership by 86,028. Preceding that transaction, on Sep 06, Company’s President and COO sold 94,000 for 57.91, making the whole transaction’s value amount to $5.44 million. This particular insider is now the holder of 370,890 in total.
Avis Budget Group Inc. (CAR)
On Thursday, shares in Avis Budget Group Inc. (CAR) fell -0.60% to close the day at $181.41. The volume of shares traded was 0.63 million, which is lower than the average volume over the last three months of 996.34K. During the trading session, the stock oscillated between $174.58 and $187.13. The company had an earnings-per-share ratio of 42.39. CAR’s stock has gained 1.88% of its value in the previous five sessions and 8.65% over the past month but has lost -12.52% on a year-to-date basis. The stock’s 50-day moving average of $168.53 is above the 200-day moving average of $193.93. Moreover, the stock is currently trading at an RSI of 61.54.
Looking at the overall sentiment about this stock we find that the community has adopted a bearish outlook, a sentiment shared by analysts offering their price forecasts for the stock for the next 12 months. 5 analysts have given Avis Budget Group Inc. (CAR) a consensus price target of $229.33, which is noticeably above its current trading value. The analysts estimate the stock will hit a 12-month high of $309.00, while a downturn for the stock is likely to see it drop to a low of $150.00. When we calculate the distance from the median price, we find that the stock will move 19.01% from its price at the previous close to touch the estimated average price. An upside towards the 12-month high will see the stock climb 41.29%, while a decline to the 12-month low will see the stock lose -20.94 of its current value.
Matson Inc. (MATX)
Matson Inc. (MATX) stock gained 3.61% to close Thursday’s session at $69.73. The stock volume remained at 0.36 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 -19.58% over the last 12 months, and they have moved up by 5.54% in the past week. Over the past three months, the stock has lost -8.24%, while over the past six months, it has shed -20.19%. Further, the company has a current market of $2.75 billion and its outstanding shares stood at 39.90 million.
Similarly, Capital Research & Management Co increased its Matson Inc. shares by 2.52% during the recently filed quarter. After buying 2,157,874 shares in the last quarter, the firm now controls 53,000 shares of Matson Inc. which are valued at $132,752,408. In the same vein, Dimensional Fund Advisors LP increased its Matson Inc. shares by during the most recent reported quarter. The firm bought 57,173 shares during the quarter which increased its stakes to 2,088,284 shares and is now valued at $128,471,232. Following these latest developments, around 1.30% of Matson Inc. stocks are owned by institutional investors and hedge funds.
