Citi analyst Ronald Josey reiterated a Buy rating on Uber Technologies (UBER – Research Report) yesterday and set a price target of $92.00.
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Ronald Josey has given his Buy rating due to a combination of factors that highlight Uber Technologies’ strategic positioning and growth potential. One of the key reasons is the strong demand across Uber’s platform, particularly in its Mobility and Delivery segments, which are bolstered by the Uber One membership base. This membership helps maintain consistent demand, while newer modalities like Uber for Teens and Uber Reserve contribute to growth in Mobility.
Additionally, Uber’s advancements in autonomous vehicle (AV) technology, highlighted by its partnerships with companies like Waymo, Volkswagen, and May Mobility, are seen as pivotal to its future expansion. The recent launch of Waymo in Austin and the preparation for Atlanta’s launch are critical steps in Uber’s AV strategy. These factors, combined with a positive outlook on earnings and strategic partnerships, support Josey’s Buy rating with a target price of $92.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UBER in relation to earlier this year.