Ride-hailing service Uber (NYSE:UBER) suffered a setback in the EU as the Dutch Data Protection Authority (DPA) levied a fine of €10 million on the company for violating privacy regulations when it comes to their drivers’ personal data.
The DPA found that Uber had not specified in its terms and conditions how long it retained the data collected from drivers, nor did it specify how secure the data was when it was sent to countries outside the European Economic Area (EEA). The regulator also found that Uber had unnecessarily complicated the process for drivers to access their personal data.
However, the DPA did acknowledge that Uber had attempted to fix the above issues. The fine was a result of 170 French drivers’ complaints routed through the French data protection authority. However, since Uber’s European headquarters is located in the Netherlands, it was forwarded to the DPA.
What is Uber Stock Prediction?
Analysts remain bullish about UBER, with a Strong Buy consensus rating based on 34 Buys and two Holds. Over the past year, UBER has shot up by 100%, and the average UBER price target of $69.26 implies an upside potential of 6.1% at current levels.
