Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment

4. Grab Holdings Limited (NASDAQ:GRAB)

Number of Hedge Fund Holders: 57

Grab Holdings Limited (NASDAQ:GRAB) provides millions of consumers access to its merchant and driver partners for food delivery, ride or taxi hailing, package delivery, payment for online purchases, and services such as telemedicine, lending, and insurance through its application. The company’s operations across mobility, deliveries, and digital financial services span eight Southeast Asian countries, ranking it fourth on our ride-sharing and food delivery stocks list.

On April 16, J.P. Morgan analyst Ranjan Sharma maintained a Buy rating on the company. In fact, TipRanks reported that seven out of the nine top analysts that rated the company gave it a Buy rating. Phillip Securities analyst Helena Wang also gave Grab Holdings Limited (NASDAQ:GRAB) a buy rating on April 8, and highlighted the company’s growth potential and strong market position as compelling factors supporting the rating. The analyst said that the company’s extensive Southeast Asian ecosystem positions it to capitalize on the rapidly growing digital adoption trends and rising urbanization.

Grab Holdings Limited (NASDAQ:GRAB) also underwent notable revenue growth due to these trends, with its On-Demand segment undergoing a 16% year-over-year increase in Gross Merchandise Value. The company’s financial services also support the analyst’s bullish sentiments, as it experienced a notable 64% year-over-year growth in its loan portfolio with narrowing adjusted EBITDA losses. Several other factors support the company’s financial health, including a robust net cash position which Grab Holdings Limited (NASDAQ:GRAB) plans to leverage for organic growth initiatives, strategic investments in electric vehicles and technology, and positive cash flow.