HyreCar Is Undervalued With 105% YOY Quarterly Revenue Growth [Seeking Alpha]
HyreCar Inc. (HYRE)
Last hyrecar inc. earnings: 3/25 04:10 pm
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Source: Seeking Alpha
HyreCar Is Undervalued With 105% YOY Quarterly Revenue Growth Summary HyreCar Inc. offers a car-sharing platform for drivers willing to work for Uber and Lyft. The company has identified a large number of drivers who are willing to collaborate with the rideshare economy but don’t own a car. With an enterprise value of $42 million, HYRE trades at 2.1x forward sales. HTZ and CAR trade at 1.7x-1.8x, with annual revenue growth of less than 8%. Taking into account HYRE’s Q1 2019 revenue growth of 105.3% y/y, the company is undervalued as compared to HTZ and CAR. Even though quarterly revenue was better than expected, the market did not react positively to the most recent quarterly report. It does not make much sense. With quarterly revenue growth of 105.3% y/y and 55.6% gross profit margin, HyreCar ( Business Overview Founded in 2014, HyreCar Inc. offers a car-sharing platform for drivers willing to work for Uber ( UBER LYFT Most investors should be wondering why car owners and drivers nee
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