Is It Too Late to Buy Uber Stock?
Uber Technologies (NYSE: UBER) seems to have turned the corner. After years of struggle following its 2019 initial public offering, the stock has reached record highs and the company has achieved its first-ever annual profit. But does that mean shares can continue to move higher, or have investors already missed the opportunity? Let's take a look.
Reaching profitability after its struggles is a huge milestone for the company. Investors had already begun to write off Uber when the pandemic sent its stock plummeting to all-time lows. Moreover, Uber would retest those lows after the 2022 bear market reversed a surge in the stock that took it to record highs at the time.
One factor appears to have boosted the company's prospects: economies of scale. Uber holds an advantage over rival Lyft in that it operates in over 70 countries; Lyft serves U.S. customers only. Moreover, it does not limit itself to serving passengers. In the most recent quarter, about 44% of Uber's revenue came from delivery and freight services.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 56 Buy predictions and no Sell predictions.
With a target price of 78 € there is a positive potential of 20.89% for Uber Technologies Inc compared to the current price of 64.52 €.
