Among today’s fastest-growing sectors is transportation as a service (TaaS). TaaS Companies offer services like delivery, transportation, and rental services. TaaS Companies provide on-demand mobility platforms for ride-sharing, biking, and renting cars. TaaS still needs to reach its full potential, and recent developments in the automotive industry and consumer behavior suggest that the future is nothing less than exciting. The COVID-19 pandemic hindered TaaS growth for some time, however, there is still time to take advantage of it.
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Investing in these TaaS companies right now should be at the top of your list.
Lyft Inc. (LYFT)
On Tuesday, shares in Lyft Inc. (LYFT) rise 4.98% to close the day at $13.29. The volume of shares traded was 12.34 million, which is lower than the average volume over the last three months of 14.67 million. During the trading session, the stock oscillated between $13.00 and $13.54. The company had an earnings-per-share ratio of -2.77. LYFT’s stock has gained 17.92% of its value in the previous five sessions and -18.17% over the past month but has lost -68.90% on a year-to-date basis. The stock’s 50-day moving average of $15.32 is above the 200-day moving average of $25.05. Moreover, the stock is currently trading at an RSI of 47.17.
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 $2585410.02. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
FedEx Corporation (FDX)
FedEx Corporation (FDX) stock lost -0.43% to close Tuesday’s session at $156.30. The stock volume remained at 3.13 million shares, which was lower than the average daily volume of 4.01 million shares within the past 50 days. FDX shares have fallen by -31.44% over the last 12 months, and they have moved up by 2.77% in the past week. Over the past three months, the stock has lost -31.34%, while over the past six months, it has shed -25.15%. Further, the company has a current market of $40.49 billion and its outstanding shares stood at 259.00 million.
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 $1.61 billion. The company sold 62200.0 shares recently to bring their 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 $1.32 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 $1.03 billion. Vanguard Total Stock Market Index now owns shares totaling to 2.66% of the shares outstanding.
DoorDash Inc. (DASH)
DoorDash Inc. (DASH) stock closed last session at $46.90, increasing 2.60% or $1.19. Shares of the company fluctuated between $45.855 and $48.76 throughout the day. The number of shares exchanged was 4.27 million, less than the company’s 50-day daily volume of 5.35 million and lower than its Year-to-date volume of 5.84 million. In the past 12 months, the company’s stock has advanced -78.22%, and in the last week, the stock has moved up 4.57%. For the last six months, the stock has lost a total of -55.97%, and over the last three months, the stock has decreased by -39.23%. The stock has returned -68.50% so far this year.
Looking at the support for the DASH, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on June 21, 2022. Raymond James coverage for the DoorDash Inc. (DASH) stock in a research note released on June 06, 2022, offered an Mkt Perform rating. Raymond James coverage for the DoorDash Inc. (DASH) stock in a research note released on June 06, 2022, offered an Mkt Perform rating. Bernstein was of the view on May 24, 2022, that the stock is Outperform, while Morgan Stanley gave the stock an Equal-Weight rating on April 25, 2022. Citigroup on their part issued a Buy rating on April 20, 2022.
Avis Budget Group Inc. (CAR)
Avis Budget Group Inc. (CAR) stock added 1.99% to finish the last trading session at $184.96. The stock recorded a trading volume of 0.51 million shares, which is below the average daily trading volume published for the last 50 days of 1.03 million shares. The shares of Avis Budget Group Inc. have retreated 1.17% in the last five days; however, they have gained 19.97% over the last month. The stock price has surged 15.84% over the last three months and has gained 16.83 percent so far this year. Further, the stock is being traded at a price-to-earnings ratio of 4.36. Additionally, it has a price-to-cash flow ratio of 2.17 and its price-to-sales ratio stands at 0.86.
Taking a closer look at the price potential of the CAR stock, the company needs to record a growth of -21.11% before it can be able to drop past its median price target of $224.00. To determine the directional movement of the stock, its 50-day moving average is $168.22 while its 200-day moving average is $193.50. With liquidity very critical in the stock market, CAR has around 48.50M shares outstanding that normally trade 47.22 million of its floats. The price of CAR recently witnessed a 5-day gain of 1.17% with an 11.83 average true range (ATR). The stock now has a beta of 2.12 while its RSI stands at 60.21.
Matson Inc. (MATX)
The stock of Matson Inc. (MATX) gained 4.37% to complete the last trading session at $73.37. The price range of the company’s shares was between $70.25 and $74.42. It traded 0.75 million shares, which was above its daily average of 0.39 million shares over 100 days. MATX’s shares have gained by 10.88% in the last five days, while they have added 7.56% in the last month. The company has a current dividend yield of 1.69%. Further, it is currently trading at a price-to-earnings ratio of 2.18 and a price-to-book ratio of 1.37. Additionally, the price-to-cash flow ratio stood at 1.96.
The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The BlackRock Fund Advisors sold more MATX shares, decreasing its portfolio by -4.06% during the last quarter. This move now sees The BlackRock Fund Advisors selling -250,835 shares in the last quarter, thus it now holds 5,929,092 shares of MATX, with a total valuation of $364,757,740. The Vanguard Group, Inc. meanwhile sold more MATX shares in the recently filed quarter, changing its stake to $280,496,687 worth of shares.
