5 Most Promising New Technology Stocks According to Analysts

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In this article, we will take a look at the 5 most promising new technology stocks according to analysts. To see more such companies, go directly to 12 Most Promising New Technology Stocks According to Analysts.

5. Full Truck Alliance Co. Ltd. (NYSE:YMM)

Number of Hedge Fund Holders: 17

Estimated One-Year Price Target: $11.97

Full Truck Alliance Co. Ltd. (NYSE:YMM) operates a digital freight platform. According to reports published in December, the China-based company called off its plans for a Hong Kong listing. In November, Full Truck Alliance Co. Ltd. (NYSE:YMM) posted its third-quarter results. Adjusted EPADS in the period came in at $0.07, beating estimates by $0.04. Revenue in the quarter jumped about 32% on a YoY basis to reach $254.2 million, beating estimates by $10.9 million. Full Truck Alliance Co. Ltd. (NYSE:YMM) said that its Gross Transaction Value in the September quarter increased by about 3.5% YoY to reach $9.8 billion.

As of the end of the third quarter of 2022, 17 hedge funds out of the 920 funds tracked by Insider Monkey reported having stakes in Full Truck Alliance Co. Ltd. (NYSE:YMM). The total value of these stakes was over $454 million. The biggest stakeholder of Full Truck Alliance Co. Ltd. (NYSE:YMM) during this period was Thomas Steyer’s Farallon Capital with a $296 million stake.

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