5 Transportation as a Service Stocks to Buy

3. DoorDash, Inc. (NYSE: DASH)

Number of Hedge Fund Holders: 38      

DoorDash, Inc. (NYSE: DASH) is a California-based company that delivers food. It was founded in 2012 and is placed third on our list of 10 transportation as a service stocks to buy. The firm went public in late 2020 with a market valuation of $72 billion. Since its founding in 2012, it has captured a huge chunk of the food delivery market in the US. The firm also gained in prominence during the pandemic as food delivery businesses took off, and DASH reported that sales had tripled in 2020 compared to the previous year. 

On April 27, investment firm Needham started coverage on DoorDash, Inc. (NYSE: DASH) with a Buy rating and a price target of $175. Bernie McTernan, an analyst at the firm, said that the company was a leader in the restaurant delivery sector, a position that had solidified during the pandemic. DoorDash stock was up close to 0.3% after the ratings update. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Coatue Management is a leading shareholder in the firm with 8.7 million shares worth more than $1.2 billion.