Does Uber Have Its Mojo Back?
One of the most widely debated stocks is Uber Technologies (NYSE: UBER). Bulls think it is the leading company in two fast-growing industries (ride-sharing and food delivery) that is set for a huge boost in profitability over the coming years, while bears think the gig economy is structurally unprofitable with huge regulatory risks.
In 2023, so far it looks like the bulls are getting proven right. Uber just posted strong first-quarter earnings, sending shares of its stock soaring close to 50% year to date. Has the mobility platform gotten its mojo back with the pandemic behind it, or are the bears right about this company? Let's take a look.
In the first three months of 2023, Uber posted strong growth across the board for its mobility (ride-sharing) and food delivery business lines. Mobility net bookings -- defined as total customer spend across the segment -- grew 43% year over year in constant currency terms to $15 billion, while the delivery segment grew bookings 12% year over year to $15 billion.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 69 Buy predictions and no Sell predictions.
With a target price of 78 € there is a positive potential of 32.0% for Uber Technologies Inc compared to the current price of 59.09 €.
