In this article we are going to take a look at the best ride sharing and food delivery stocks to buy according to hedge funds.
According to a report by Mordor Intelligence, the global ride-sharing market has a size of $53.02 billion as of 2025. It is expected to grow at a compound annual growth rate of 11.45% between 2025 and 2030, reaching $91.16 billion at the end of the forecast period. Europe is the largest market for the ride-sharing industry. However, Asia Pacific takes the lead as the fastest-growing. The industry has a low market concentration.
Some of the key reasons behind this growth include a rise in initiatives to bring carbon emissions down and rapid urbanization, as well as trends such as lack of efficient public transportation services in various countries. The rising expenses of vehicle ownership and maintenance are also significant growth drivers for this industry. Similarly, innovative trends in the ride-sharing industry, such as driverless vehicles, are also allowing growth.
The online food delivery industry has become a force to reckon with due to recent technological advancements. According to a report by Mordor Intelligence, the online food delivery market has a size of $780 billion as of 2025. It is anticipated to grow at a compound annual growth rate of 15.01% between 2025 and 2030, reaching $1.57 trillion at the end of the forecast period. Similar to the ride-sharing industry, the food delivery sector has a low market concentration. Asia Pacific is the largest market for the industry, and it is also the fastest growing.
Some of the primary factors behind growth in this sector to be urbanization, technological advancements, and rapidly changing consumer lifestyles. Since smartphones and high-speed internet have become a pivotal part of consumer life, online food ordering has become accessible and seamless. Similarly, the emergence of cloud kitchens, which only offer food delivery without traditional dining options, has slashed operational expenses and allowed restaurants to make food delivery their specialty, further bolstering market scalability.
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Technological Advancements in the Food Delivery and Ride-Sharing Industries
The use of innovative technology is increasingly altering the food delivery and ride-sharing industries. For instance, Grubhub and Avride announced a collaboration to bring autonomous robot food delivery to colleges across the country. While the service is currently only available at The Ohio State University, students studying at Grubhub partnered campuses can easily order snacks, meals, and convenience items through delivery carried out by robots.
The first fleet of the collaboration’s 100 robots is currently active in The Ohio State University campus. The fleet is fitted with next-generation models that can manage high delivery volumes in the university’s premises. This advanced technology was derived from Avride’s expertise in autonomous vehicles, as its robots are reliable, intelligent, and able to navigate challenging environmental conditions such as snow and rain.
Since both the food delivery and ride-sharing industries are expected to grow at notable compound annual growth rates, let’s look at the best ride-sharing and food delivery stocks that are popular among elite hedge funds.
A close up view of a hand holding a smartphone, using a ride sharing app.
Our Methodology
We sifted through stock screeners, financial media reports, and ETFs to compile a list of ride-sharing and food delivery stocks and ranked them in ascending order of hedge fund sentiment as of fiscal Q4 2024. We sourced the hedge fund sentiment data from Insider Monkey’s database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment
9. Marti Technologies, Inc. (NYSEAMERICAN:MRT)
Number of Hedge Fund Holders: 4
Headquartered in Istanbul, Marti Technologies, Inc. (NYSEAMERICAN:MRT) offers tech-enabled urban transportation services to riders across Turkiye. The company operates through two segments: Ride-Hailing and Two-Wheeled Electric Vehicle Rentals. The Ride-Hailing segment matches riders with drivers going in the same direction for ride-sharing and motorcycle rides, while the Two-Wheeled Electric Vehicle Rentals segment manages electric bikes, scooters, and moped rental services. We recently covered MRT in a separate article in detail.
The company announced that as of March 25, its ride-hailing service reached 290 thousand registered drivers and 1.91 million riders, surpassing its March 31 target of 290 thousand registered drivers and 1.90 million riders. Marti Technologies, Inc. (NYSEAMERICAN:MRT) thus underwent an 18.6% growth in the number of ride-hailing riders between December 15, 2024, and March 25, 2025, while the number of registered drivers grew 13.9% during the same time period. This notable growth in the company’s ride-hailing marketplace reflects the strong demand for its services across the country.
Marti Technologies, Inc. (NYSEAMERICAN:MRT) has set a target of 2.15 million riders and 310 thousand registered drivers by June 30, 2025. On April 14, Litchfield Hills analyst Theodore O’Neill initiated coverage of Marti Technologies, Inc. (NYSEAMERICAN:MRT) with a Buy rating and a $7 price target. In a research note, the analyst told investors that the company is “growing rapidly” as a market share leader and that Turkiye represents a large, underpenetrated market opportunity.
8. Swvl Holdings Corp. (NASDAQ:SWVL)
Number of Hedge Fund Holders: 7
Swvl Holdings Corp. (NASDAQ:SWVL) is a tech-driven mobility company that offers mass transit solutions. It offers services to its customers through two offerings on its platform: business-to-consumer (B2C), which comprises Swvl Retail and Swvl Travel, and business-to-business (B2B), which covers the transport as a service (TaaS) model. The company has operations in 82 cities in seven countries worldwide.
On April 2, Swvl Holdings Corp. (NASDAQ:SWVL) highlighted its financial performance for fiscal year 2024 through an investor presentation, reporting notable revenue and gross margin improvements. Its dollar-pegged revenue underwent a 95% growth compared to last year. The company also attained a 64% reduction in cash flows used in operations between fiscal years 2023 and 2024. These positive results reflect Swvl Holdings Corp.’s (NASDAQ:SWVL) strategic focus on improving operational efficiency and optimizing its transport network, positioning it for continued success in the industry.
On February 10, the company announced a $2 million private placement, which is expected to support US expansion and highlights confidence in Swvl Holdings Corp.’s (NASDAQ:SWVL) growth strategy. The company takes the 8th spot on our list of ride-sharing and food delivery stocks ranked by hedge fund sentiment.
7. Olo Inc. (NYSE:OLO)
Number of Hedge Fund Holders: 30
Olo Inc. (NYSE:OLO) functions as an enterprise-grade, open SaaS platform that helps restaurants with online food delivery and ordering. It offers a cloud-based platform that helps restaurants manage deliveries, handle orders, and enhance customer connections. The company’s software integrates with a number of restaurant technology solutions like point-of-sale (POS) systems, delivery service providers, and payment processors, streamlining operations for restaurant businesses. It serves a range of restaurant chains, including Wingstop and Shake Shack.
On March 24, Lake Street analyst Eric Martinuzzi maintained a Buy rating on Olo Inc. (NYSE:OLO) and set a price target of $9.00. In another report released on March 20, Terry Tillman from Truist Financial also maintained a Buy rating on the company.
Olo Inc. (NYSE:OLO) reported strong operations in 2024, with over $29 billion in gross merchandise volume. The company more than doubled its gross payment volume to $2.8 billion, up from $1 billion in 2023, and released 13 product enhancements in its upgraded platform version. These enhancements included AI-powered menu item recommendations. Olo Inc. (NYSE:OLO) has an optimistic outlook for 2025 and expects revenue to fall between $333-$336 million and adjusted operating income between $45.5-$47 million. The company ranks 7th on our ride-sharing and food delivery stocks list.
6. Avis Budget Group, Inc. (NASDAQ:CAR)
Number of Hedge Fund Holders: 35
Avis Budget Group, Inc. (NASDAQ:CAR) is a provider of vehicle sharing and renting services. The company operates in the Americas and International segments. The Americas segment manages car sharing and vehicle renting operations in South America, North America, Central America, and the Carribean. The International segment covers vehicle renting and car sharing in Africa, Asia, Europe, the Middle East, and Australasia.
The company reported $2.7 billion in revenue for fiscal Q4 2024, while revenue for the full year 2024 reached $11.8 billion. Avis Budget Group, Inc. (NASDAQ:CAR) also reported an adjusted EBITDA of $628 million for 2024.
The company is focusing on expediting its fleet rotation, creating higher certainty on its fleet costs back to normalized levels and positioning it to slash maintainenance and repair costs, boost utilization, and provide an improved customer experience while sustainably growing adjusted EBITDA in 2025 and beyond. This strategic initiative thus brings a positive light to the company’s long-term operations.
On April 11, Bank of America Securities analyst John Babcock maintained a Buy rating on Avis Budget Group, Inc. (NASDAQ:CAR) and set a price target of $105.00. It takes the sixth spot on our list of the food delivery and ride-sharing stocks to invest in.
5. LYFT Inc. (NASDAQ:LYFT)
Number of Hedge Fund Holders: 55
LYFT Inc. (NASDAQ:LYFT) provides and manages an online social ride-sharing community platform that offers users access to a nexus of shared rides, scooters, and bikes. The company also offers information about neighboring public transit routes and a view of transportation options when planning a trip through Lyft Rentals.
On April 16, the company undertook the $197 million acquisition of Freenow, a European mobility platform, marking a notable shift in its operational strategy. The acquisition ended LYFT Inc.’s (NASDAQ:LYFT) North America-only focus, broadening its global footprint as Freenow operates across over 150 cities in around nine European countries. It also holds a competitive position in the taxi-hailing segment. The acquisition deal is anticipated to close in late 2025 and would nearly double LYFT Inc.’s (NASDAQ:LYFT) total addressable market to over 300 billion rides per year.
The company’s expansion into international markets has eased investor concerns, setting the stage for recovered interest in the stock. Analysts are thus bullish on the stock, and its median price target of $11.00 implies an upside of 36.36% from current levels. With the global mobility sector continuously developing with autonomous vehicle technology, LYFT Inc. (NASDAQ:LYFT) is one of the best ride-sharing and food delivery stocks to invest in. On April 16, Oppenheimer initiated coverage of the company with bullish sentiments and an Outperform rating, setting a $15 price target.
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.
3. Maplebear Inc. (NASDAQ:CART)
Number of Hedge Fund Holders: 60
Maplebear Inc. (NASDAQ:CART) designs and develops an online app that offers grocery delivery and pick-up services. It offers Instacart, allowing users to connect with personal shoppers in their vicinity who deliver and pick up food from local stores.
In a report released on April 11, Andrew Boone from JMP Securities reiterated a Buy rating on Maplebear Inc. (NASDAQ:CART) and set a price target of $55.00. The company announced a new partnership with Dierbergs Markets, a 27-store independent grocer, on April 8 to expand its operations and offer same-day delivery in as fast as 60 minutes. The partnership will include Dierbergs on the Instacart App, allowing customers access to fresh food, grocery options, and household items for same-day delivery.
Dierbergs is also leveraging Carrot Tags, Instacart’s electronic shelf label, to help customers locate their ordered products easily and boost order accuracy. Maplebear Inc. (NASDAQ:CART) also introduced Smart Shop on March 18, which employs generative AI to improve the shopping experience and increase online grocery shopping efficiency by analyzing customers’ dietary preferences and habits.
2. DoorDash, Inc. (NASDAQ:DASH)
Number of Hedge Fund Holders: 88
DoorDash, Inc. (NASDAQ:DASH) designs, develops, and operates a food delivery and logistics platform, serving customers in the US, Canada, and Australia. Its primary offerings include the DoorDash Marketplace and the Wolt Marketplace, collectively known as the Marketplaces, and its Commerce Platform.
The company recently announced the expansion of its existing partnership with Coco Robotics, a food delivery robotics company. The collaboration would allow DoorDash, Inc. (NASDAQ:DASH) to offer sidewalk robot delivery in a limited number of American cities. Senior Director of DoorDash Labs Harrison Shih said that the future of delivery will be multimodal, which is why the company is complementing the Dasher network and enhancing the delivery experience for its customers through such strategic initiatives.
DoorDash, Inc. (NASDAQ:DASH) also entered into a national collaboration with Giant Tiger Stores, which launched on-demand delivery under this partnership to expedite the delivery process. This deal invoked positive sentiments from investors and analysts, ranking the company as one of the best food delivery stocks. On April 16, Bank of America Securities analyst Mike McGovern maintained a Buy rating on the company.
1. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 166
Uber Technologies, Inc. (NYSE:UBER) ranks first on our ride-sharing and food delivery stocks list. It operates as a technology platform that offers ride services and merchant delivery service providers for food, groceries, meal preparation, and other delivery services. The company’s operations are divided into Delivery, Mobility, and Freight. The Delivery segment allows users to order food, while the Mobility segment provides access to Mobility Drivers who provide rides in various vehicles. The Freight segment connects Carriers and Shippers.
In a report released on April 23, Justin Post from Bank of America Securities reiterated a Buy rating on Uber Technologies, Inc. (NYSE:UBER) and set a price target of $95.00. The analyst gave this rating despite the recent FTC lawsuit against Uber in association with its Uber One subscription policies, which accused the company of deceptive billing and cancellation practices.
The analyst opined that the lawsuit is not expected to significantly affect Uber Technologies, Inc.’s (NYSE:UBER) financials. He reasoned that this is because Uber One members are continually finding value in the service, growing significantly to over 30 million by the end of 2024. The members also significantly contribute to its delivery and gross bookings, which highlights strong engagement. The analyst said that the overall gig economy is favorably viewed in the broader internet sector, and Uber Technologies, Inc.’s (NYSE:UBER) operations in that sector supports the Buy rating.
Overall, UBER ranks first among our ride-sharing and food delivery stocks list ranked by hedge fund sentiment. While we acknowledge the potential of ride-sharing and food delivery stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than UBER but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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