Per Reuters, Daimler AGDDAIF has invested in Estonia's ride-hailing application, Taxify. This marks the addition of another mobility company in the investment portfolio of Daimler. Moreover, this German automaker is already an important investor or a majority owner in a number of online cab services.
Taxify has a presence in many African cities, as well as in Central and Eastern Europe. The investment will enable the company to develop its technology and expand its existing footprint in the markets. The company received $175 million from a group of investors led by Daimler, bringing Taxify's total valuation to $1 billion.
A few other ride-hailing companies, majorly or partly owned by Daimler, include MyTaxi, Chauffeur Prive and Careem. MyTaxi is a major online cab player in Germany, which is also expanding in Britain, Ireland and Spain. Further, Daimler is an active investor in France's Chauffeur Prive and the Middle Eastern operating company Careem.
Daimler AG Price and Consensus
Daimler AG Price and Consensus | Daimler AG Quote
Aiming to be a leader in mobility services, the company invests in concepts to optimize the existing transportation infrastructure, and develop flexible and eco-friendly mobility solutions.
Price Performance
In the past three months, Daimler's stock has moved down 12.5% compared with 5.3% decline of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Daimler currently carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the auto space are BMW AG BAMXF , Ferrari N.V. RACE and General Motors Corporation GM , each carrying a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
BMW has an expected long-term growth rate of 4.5%. Shares of the company have risen 6.3% over the past year.
Ferrari has an expected long-term growth rate of 17.3%. Shares of the company have risen 47% over the past year.
General Motors has an expected long-term growth rate of 5.5%. In a year's time, shares of the company have gained 9.9%.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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General Motors Company (GM): Free Stock Analysis Report
Daimler AG (DDAIF): Free Stock Analysis Report
Bayerische Motoren Werke AG (BAMXF): Free Stock Analysis Report
Ferrari N.V. (RACE): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
