I'm Changing My Mind on Uber Technologies Stock. Here's Why.
Uber Technologies (NYSE: UBER) is one stock I have long urged investors to avoid. While the ridesharing industry is likely here to stay, high costs made the company a consistent money loser. Consequently, its stock has only experienced modest growth since its initial public offering (IPO) more than four years ago.
However, conditions changed in the second quarter of 2023 when the company reported a profit. With that change, Uber may finally have the fundamentals to take the stock higher.
Uber stock initially surged in May 2019 following its IPO. But as investors took a closer look at the financials, they saw no obvious path to profitability. The stock consistently fell until a pandemic-induced revival took it higher, but it could not sustain those gains in the 2022 bear market.
Source Fool.com
Uber Technologies Inc Stock
With 69 Buy predictions and not a single Sell prediction Uber Technologies Inc is an absolute favorite of our community.
As a result the target price of 78 € shows a positive potential of 32.34% compared to the current price of 58.94 € for Uber Technologies Inc.
