Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Wall Street is very high on the stock, with 27 of the 33 brokerage recommendations Zacks has at “Strong Buys,” alongside four “Buys,” and two “Holds.” And Uber’s recent fall has taken it from overbought RSI levels to below neutral. Long-term investors might want to consider Uber as it proves it can thrive and grow market share in multiple key segments of the economy and become profitable at the same time. And its PEG ratio, which factors in its bottom-line growth outlook, sits at 1.2 vs. Uber trades at a 65% discount to its own highs at 2.2X forward sales and 43% below the Zacks tech sector. Uber is holding the line around its 50-day moving average and it trades about 28% below its average Zacks price target. Uber is currently down 30% from its 2021 records and 10% below its recent highs at roughly $44 a share. Uber hit fresh 52-week highs of $49.49 per share the day before it reported its Q2 results. More recently, Uber stock has jumped 80% in 2023 vs. Uber shares have climbed by roughly 36% during the past 12 months to crush the benchmark’s 5% and Lyft’s -37% drop. the Zacks tech sector’s 77% gain and the S&P 500’s 60% climb. Uber is up around 7% since its May 2019 IPO vs. Uber’s CEO said at the time that: “Fully autonomous driving is quickly becoming part of everyday life, and we’re excited to bring Waymo's incredible technology to the Uber platform.” Uber will be competing against or possibly with the likes of Tesla (TSLA ) and others in this space down the road. In fact, Uber in late May announced a new multi-year strategic partnership with Waymo for autonomous driving, bringing together its “world-leading autonomous driving technology with the massive scale of Uber’s ridesharing and delivery networks.” Uber remains focused on a possible future where fleets of autonomous vehicles drive people around cities, deliver food, and transport goods. The “power of the Uber platform and the team’s relentless focus on profitable growth was on full display in Q2, with record profitability and over $1 billion of quarterly free cash flow,” CFO Nelson Chai said in prepared remarks. a $713 million loss in the second quarter of 2022. a loss of $2.60 billion in the year-ago period and an operating income of $326 million vs. Uber reported $394 million in profit in Q2 vs. The company also crucially posted GAAP operating profit for the first time in Uber’s history. Uber posted adjusted quarterly earnings of +$0.18 a share in Q2 to crush the Zacks consensus that called for a loss of -$0.01 per share. Plus, Uber stock slipped recently on some post-release profit-taking and its valuation levels look enticing. Uber is also experimenting with new revenue streams. Uber crushed our Q2 earnings estimate on August 1 and boosted its guidance as ridership booms and delivery grows. So it makes a lot of sense to check out what analysts think Uber. Wall Street has celebrated Uber’s ability to expand its ride-hailing and delivery businesses while simultaneously focusing on the bottom line. Uber Technologies is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. The ride-hailing firm in early August reported GAAP operating profit for the first time in its history. All rights reserved.Uber Technologies, Inc. Major League Baseball trademarks and copyrights are used with permission of MLB Advanced Media, L.P.A subscription is required for Apple TV+.Learn more about how Apple Card applications are evaluated at /kb/HT209218.territories, please call Goldman Sachs at 87 with questions about Apple Card. Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS.View full terms and conditions of offer here. Only one Apple Gift Card per eligible Mac or iPad per Qualified Purchaser. Qualified Purchasers receive an Apple Gift Card when they purchase an eligible Mac or iPad at a Qualifying Location.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |