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Gig Economy Stocks to Consider Amid Rising Industry Growth
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The concept of a gig economy has been gaining immense popularity post-pandemic. One of the major attractions of gig work is the freedom from a rigid, standard work schedule. This flexibility lets individuals choose when and how much to work, potentially making it easier to balance personal commitments with professional goals.
The gig economy no longer connects just drivers and riders. Given its tremendous expansion and growing popularity, the scope of the concept has increased manifold. Now, whether it's food delivery, grocery shopping, or even hiring a plumber or graphic designer, the convenience of accessing the desired services has redefined our everyday lives. No wonder companies like Uber (UBER - Free Report) , Angi (ANGI - Free Report) and DoorDash (DASH - Free Report) are utilizing this popular concept to make lives easy and convenient. The lure of the gig economy cannot be ignored by those who prefer to be their own boss and work independently.
We also have Upwork (UPWK - Free Report) and Fiverr (FVRR - Free Report) , connecting skilled freelancers with businesses for short-term projects and allowing professionals to choose their schedules. This flexibility is highly valued by many, especially when compared to the rigidity of traditional employment structures. The very idea of being your own boss and setting your hours — appeals to a growing segment of the workforce, even if it sometimes means sacrificing the predictability of a fixed paycheck, lack of job security and associated benefits.
That the concept of the gig economy is here to stay can be understood from the fact that the market is expected to reach $2.14 trillion by 2033 from $556.7 billion in 2024. This implies that the market is likely to witness a compound annual growth rate of about 16.2% in the 2024-2033 timeframe.
Given its popularity and potential, focusing on gig-focused companies appears prudent. Our gig economy screen will help you identify the right stocks now to capitalize on this high-growth and highly popular industry.
Ready to uncover more transformative thematic investment ideas? Explore 30 cutting-edge investment themes with Zacks Thematic Screens and discover your next big opportunity.
Uber is a key player in the gig economy platform. It connects passengers with drivers through its app, where drivers are engaged as independent contractors, offering flexibility and on-demand work. Uber is also a key player in the ride-hailing segment.
Uber’s drivers can choose when and how much they work, offering flexibility and autonomy. The company’s gig-based approach permits drivers to work part-time or full-time and choose their own work schedule. Their income is based on the rides they complete rather than a fixed salary or hourly wage. Uber drivers are paid per ride, with earnings determined by the distance, time, and demand for rides.
By consistently evolving and providing opportunities for flexible income, Uber underscores the value and potential of gig-based transportation solutions, making it a vital part of the modern workforce. The stock currently carries a Zacks Rank #2 (Buy).
Angi highlights the evolving nature of the gig economy by bridging the gap between homeowners and skilled service professionals. Angi's focus on the gig economy has contributed to its growth as a leading online marketplace for home services in the United States.
Angi, through its subsidiary Handy Technologies, highlights the evolution of the gig economy into home services. Handy Technologies offers services in the United States, the United Kingdom, and Canada. It is an online two-sided marketplace (an intermediary economic platform, having two distinct user groups that provide each other with network benefits) for residential cleaning, installation and other home services.
The platform acts as a marketplace where independent contractors — from electricians and plumbers to landscapers and handymen — can connect with consumers needing services. By leveraging technology, Angi not only streamlines the process of finding reliable professionals but also supports flexible, on-demand work for these gig workers. The stock currently carries a Zacks Rank #3 (Hold).
DoorDash is a dominant player in the U.S. food delivery market, with more than 65% market share. The company’s focus on the gig economy is highlighted by its focus on connecting customers with independent contractors (delivery drivers) for food and other items. This business model enables DASH to leverage a flexible, on-demand workforce and reduce operational costs.
By utilizing the DoorDash Dasher app, customers can place an order for restaurant takeaway or other retail items. The Dasher then picks up the order from the restaurant or shop for the requested retail items and delivers the same to the customer. Apart from safe transportation and a smartphone, the app has all the other facilities needed for dashers to earn and complete deliveries and tasks from restaurants, convenience stores, drugstores, and even pet shops.
The gig economy model allows the company to scale its operations quickly and efficiently, responding to fluctuating demand in different locations. The drivers enjoy the flexibility to work part-time or full-time and choose their hours, thereby earning on their terms. By consistently improving its platform and incentivizing Dashers, DoorDash can meet the growing demand for on-demand deliveries. The stock currently carries a Zacks Rank #3.
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Gig Economy Stocks to Consider Amid Rising Industry Growth
The concept of a gig economy has been gaining immense popularity post-pandemic. One of the major attractions of gig work is the freedom from a rigid, standard work schedule. This flexibility lets individuals choose when and how much to work, potentially making it easier to balance personal commitments with professional goals.
The gig economy no longer connects just drivers and riders. Given its tremendous expansion and growing popularity, the scope of the concept has increased manifold. Now, whether it's food delivery, grocery shopping, or even hiring a plumber or graphic designer, the convenience of accessing the desired services has redefined our everyday lives. No wonder companies like Uber (UBER - Free Report) , Angi (ANGI - Free Report) and DoorDash (DASH - Free Report) are utilizing this popular concept to make lives easy and convenient. The lure of the gig economy cannot be ignored by those who prefer to be their own boss and work independently.
We also have Upwork (UPWK - Free Report) and Fiverr (FVRR - Free Report) , connecting skilled freelancers with businesses for short-term projects and allowing professionals to choose their schedules. This flexibility is highly valued by many, especially when compared to the rigidity of traditional employment structures. The very idea of being your own boss and setting your hours — appeals to a growing segment of the workforce, even if it sometimes means sacrificing the predictability of a fixed paycheck, lack of job security and associated benefits.
That the concept of the gig economy is here to stay can be understood from the fact that the market is expected to reach $2.14 trillion by 2033 from $556.7 billion in 2024. This implies that the market is likely to witness a compound annual growth rate of about 16.2% in the 2024-2033 timeframe.
Given its popularity and potential, focusing on gig-focused companies appears prudent. Our gig economy screen will help you identify the right stocks now to capitalize on this high-growth and highly popular industry.
Ready to uncover more transformative thematic investment ideas? Explore 30 cutting-edge investment themes with Zacks Thematic Screens and discover your next big opportunity.
Uber is a key player in the gig economy platform. It connects passengers with drivers through its app, where drivers are engaged as independent contractors, offering flexibility and on-demand work. Uber is also a key player in the ride-hailing segment.
Uber’s drivers can choose when and how much they work, offering flexibility and autonomy. The company’s gig-based approach permits drivers to work part-time or full-time and choose their own work schedule. Their income is based on the rides they complete rather than a fixed salary or hourly wage. Uber drivers are paid per ride, with earnings determined by the distance, time, and demand for rides.
By consistently evolving and providing opportunities for flexible income, Uber underscores the value and potential of gig-based transportation solutions, making it a vital part of the modern workforce. The stock currently carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Angi highlights the evolving nature of the gig economy by bridging the gap between homeowners and skilled service professionals. Angi's focus on the gig economy has contributed to its growth as a leading online marketplace for home services in the United States.
Angi, through its subsidiary Handy Technologies, highlights the evolution of the gig economy into home services. Handy Technologies offers services in the United States, the United Kingdom, and Canada. It is an online two-sided marketplace (an intermediary economic platform, having two distinct user groups that provide each other with network benefits) for residential cleaning, installation and other home services.
The platform acts as a marketplace where independent contractors — from electricians and plumbers to landscapers and handymen — can connect with consumers needing services. By leveraging technology, Angi not only streamlines the process of finding reliable professionals but also supports flexible, on-demand work for these gig workers. The stock currently carries a Zacks Rank #3 (Hold).
DoorDash is a dominant player in the U.S. food delivery market, with more than 65% market share. The company’s focus on the gig economy is highlighted by its focus on connecting customers with independent contractors (delivery drivers) for food and other items. This business model enables DASH to leverage a flexible, on-demand workforce and reduce operational costs.
By utilizing the DoorDash Dasher app, customers can place an order for restaurant takeaway or other retail items. The Dasher then picks up the order from the restaurant or shop for the requested retail items and delivers the same to the customer. Apart from safe transportation and a smartphone, the app has all the other facilities needed for dashers to earn and complete deliveries and tasks from restaurants, convenience stores, drugstores, and even pet shops.
The gig economy model allows the company to scale its operations quickly and efficiently, responding to fluctuating demand in different locations. The drivers enjoy the flexibility to work part-time or full-time and choose their hours, thereby earning on their terms. By consistently improving its platform and incentivizing Dashers, DoorDash can meet the growing demand for on-demand deliveries. The stock currently carries a Zacks Rank #3.