15 High Growth Companies Hedge Funds Are Buying

3. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 166

Average 5-Year Revenue Growth: 33.62%

Uber Technologies, Inc. (NYSE:UBER), the American mobility tech giant, is one of the best high growth stocks on the radar of elite hedge funds. On April 29, BMO Capital Markets assigned an Outperform rating to UBER, with a $92 price target. The company is in great financial shape, according to BMO Capital, with strong growth in both its ride-hailing and delivery businesses. The company’s global strategy, new delivery partnerships with major retailers, and its early success with autonomous rides through Waymo in Austin are fueling momentum. While self-driving tech is still years away from being mainstream, Uber is expected to grow steadily without heavy investment in its own fleet. BMO is sticking to its growth forecasts, confident in Uber’s long-term outlook.

On March 24, Uber Technologies, Inc. (NYSE:UBER) partnered with the US Army to roll out a pilot program that makes ride sharing easier for military members and their families, both on and off base. Starting at six Army installations, including Fort Bragg and Joint Base Lewis-McChord, the program will bring more transportation options to areas where public transit is limited. Uber plans to expand the program to over 20 bases across 15 states, helping military communities stay connected and boosting local economies.

According to Insider Monkey’s fourth quarter database, 166 hedge funds were bullish on Uber Technologies, Inc. (NYSE:UBER), compared to 136 funds in the prior quarter. Brad Gerstner’s Altimeter Capital Management was a notable stakeholder of the company, with 5.58 million shares valued at $337 million.