Uber Tech (UBER)

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vested

Uber Technologies (UBER)

Since its introduction, Uber has expanded its services, growing from its San Francisco base to more than 900 cities around the world and adding food deliver (Uber Eats) and business services (Uber Freight) to its offerings.

Even the basic ride option has expanded, adding ride pooling and luxury vehicles to the basic Uber rides offering.

During the pandemic period, Uber saw riders drop off – but Uber Eats expanded as more people called out for food deliveries.

Top line revenues bottomed out at $2.25 billion in 2Q20, but by 2Q21 had risen back to $3.93 billion.

Earnings per share, which had been negative for years, turned positive in 2Q21, coming in at 58 cents.

The gains came as the rideshare service moved back to pre-pandemic levels. The company had unrestricted cash of $5 billion at the end of the second quarter of this year.

More recently, in October, Uber completed its acquisition of Drizly, the large e-commerce alcohol store in North America. The deal – done in a combination of stock and cash – cost Uber $1.1 billion, makes Drizly a wholly-owned subsidiary of Uber, and gives Uber access to Drizly’s delivery network in 1,600 cities across 33 states. Uber can now add deliver of beer, wine, and spirits to its services.

In his coverage of Uber for Goldman Sachs, 5-star analyst Eric Sheridan sees the company with a clear path forward. Delaney rates UBER a Buy, and his $64 price target implies an upside of 46% for the next 12 months.

Backing his bullish stance, Sheridan wrote: “Across its array of products, we see Uber as the next large cap platform ecosystem in our coverage universe – scale of user and economic capture around a common theme of local transportation and eCommerce.

While the rate of recovery in its Mobility business and the rate of normalization in Delivery will likely dominate short-term debates among investors, we think the longer-term focus is around the flywheel effect of platform users….

Specifically, we are bullish on the concept of how a collection of products can capture increasing wallet share across multiple end markets with secular growth & rising online penetration rates."

Overall, Uber has an impressive 23 Buy ratings from the Wall Street analysts, and along with 2 Holds, these give the stock its Strong Buy consensus rating.

The shares are priced at $44.57 and the $68.08 average price target implies it has room for ~53% growth in the year ahead.

Source: Tipranks

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Uber ride share business regains traction in quarter

Uber logged a net loss of US$2.4 billion despite revenue growing 72 per cent to US$4.8 billion.

Gross bookings grew 57 per cent to US$23.1 billion in the quarter.

The number of trips during the quarter grew 39 per cent to 1.64 billion, or nearly 18 million trips per day on average.

An Uber Freight platform that pairs truckers with shipments in a spin on how the ride service matches drivers with riders saw bookings climb 32 per cent to US$409 million.

Source: AFP

https://www.businesstimes.com.sg/garage ... in-quarter

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I'm Finally Feeling Better About Uber: Here's How to Trade It

Uber may have to wait until the dawn of truly autonomous driving until the firm will have the potential to truly excel in terms of profitability.

By STEPHEN GUILFOYLE

Source: The Street

https://realmoney.thestreet.com/investi ... Trade%2BIt

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Why Josh Brown Just Bought More Uber Stock

by Adam Eckert

During the company's most recent earnings announcement, Uber reported its first-ever operating profit as a public company, Brown said.

Uber reported a quarterly adjusted earnings loss of 21 cents per share, which beat the estimate for a loss of 33 cents per share.

The company reported quarterly revenue of $4.84 billion, which beat the estimate of $4.42 billion.

Uber also said that October was the best month in the company's 12-year history.

UBER Price Action: Uber has traded as high as $64.05 and as low as $38.08 over a 52-week period.

Uber CEO Weighs In On Earnings Results: 'Right Now All Signs Are Positive For Us'

Source: Benzinga.com

https://finance.yahoo.com/news/why-josh ... 29447.html

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Uber looking to sell stakes in companies including Didi, CEO says

Uber last week had its best week ever, in terms of company-wide gross bookings at its ride-hail and food delivery operations.

But overall, ride-hail trips remained around 10 per cent below pre-pandemic levels, the CEO said.

Uber had roughly US$13.1 billion tied up in investments in other companies as of the end of the third quarter, including US$4.1 billion in Didi.

Uber's operational business last quarter for the first time achieved profitability on an adjusted earnings basis, but its Didi stake drove a US$2.4 billion net loss in the third quarter.

Uber also holds stakes in Indian food delivery company Zomato, South-east Asian rival Grab, self-driving company Aurora Innovation and others.

Source: Reuters

https://www.businesstimes.com.sg/garage ... i-ceo-says

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vested

Why Uber Stock May Surge More than 20%

by Michael Kramer

Uber (UBER) shares may be ready to surge higher as the technical charts show some signs of a bottom, while options traders load up on calls.

Source: Tip Ranks

https://www.tipranks.com/news/article/w ... tory_tue_2

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Has Uber Become a Bargain?

by Steve Anderson

Uber has a Strong Buy consensus rating. That’s based on 19 Buys and one Hold assigned in the past three months. The average Uber price target of $69.55 implies 90.8% upside potential.

Analyst price targets range from a low of $50 per share to a high of $82 per share.

Source: Tip Ranks

https://www.tipranks.com/news/article/h ... M0Y0JjE%3D

[winston]

vested

Has Uber Become a Bargain?

by Steve Anderson

Uber has a Strong Buy consensus rating. That’s based on 19 Buys and one Hold assigned in the past three months. The average Uber price target of $69.55 implies 90.8% upside potential.

Analyst price targets range from a low of $50 per share to a high of $82 per share.

Source: Tip Ranks

https://www.tipranks.com/news/article/h ... M0Y0JjE%3D

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vested

Uber Technologies: Performing Well but Risky

by Stavros Georgiadis

First, the EU has drafted new employee rules for gig workers. All EU members have to decide and vote on them.

The second key risk for Uber is the large investments in robotaxis and autonomous vehicles made by other giants. If the future is about self-driving cars, Uber will have to compete with these technology companies eg. GM and offer better value to its members and customers.

Uber has a Strong Buy consensus, based on 19 Buys and 1 Hold ratings. The average UBER price target of $69.55 represents an 75.3% upside potential.

Source: Tip Ranks

https://www.tipranks.com/news/article/u ... M0Y0JjE%3D

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not vested

Uber Stock: Intriguing Growth Play Could Turn Corner

by Joey Frenette

Uber stock has already shed around 42% of its value from peak to trough.

Autonomous Vehicles (AVs) could bring forth increased competition in the ride-hailing scene, effectively eroding Uber’s moat.

Elon Musk’s past comments about Tesla (TSLA) and its potential entrance into the ride-hailing space may be a cause for concern.

Out of 18 analyst ratings, there are 18 Buy recommendations.

The average Uber price target is $69.50. Analyst price targets range from a low of $55 per share to a high of $82 per share.

Uber stock is far from expensive, with shares trading at around 4.6 times sales.

Source: Tip Ranks

https://www.tipranks.com/news/article/u ... =story_thu