Where is Uber Technologies (UBER) Headed?

Uber Technologies, Inc. (NYSE:UBER) is one of the best strong buy growth stocks to buy according to hedge funds. Uber Technologies, Inc. (NYSE:UBER) and The Kroger Co. announced on January 15 the launch of around 2,700 Kroger Family of Companies stores on the Uber Eats, Uber, and Postmates apps. The initiative allows customers to shop their local Kroger banner for household essentials, fresh groceries, Kroger’s Our Brandsfavorites, and a range of other items through the on-demand and same-day delivery offered by Uber’s apps.

Management stated that the rollout delivers on the previously announced plan by the two companies to expand access, value, and choice for users. In addition to Kroger’s sushi and floral shops already available on Uber Eats, customers are now able to browse full store assortments from a range of Kroger banners.

In a separate development, Uber Technologies, Inc. (NYSE:UBER) was initiated with an Outperform rating by BNP Paribas on January 14 with a price target of $108. The firm told investors that it considers the company to be “a mobility and delivery winner” despite the fear of autonomous vehicles disintermediating the business in the long-term.

Uber Technologies, Inc. (NYSE:UBER) 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.

While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.