Could Uber Technologies Stock Help You Become a Millionaire?
(NYSE: UBER) has underperformed the market since its IPO in May 2019. The mobility and delivery services company listed its shares at $45, and it stayed below that level throughout most of the following four years before finally rallying over the past few months to about $62 as of this writing. A $100,000 stake in its IPO would be worth roughly $138,000 today, while the same investment in an S 500 index fund would have grown to $160,000.
Uber didn't initially impress investors -- it racked up steep losses, and its growth stalled out during the pandemic. However, its stabilizing post-pandemic growth, expanding margins, and improving profitability over the past year have brought back some bulls. Could Uber go on to generate millionaire-making gains from these levels?
Image source: Uber.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
With a target price of 78 € there is a positive potential of 31.49% for Uber Technologies Inc compared to the current price of 59.32 €.
