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Investing.com - Evercore ISI has maintained its Outperform rating and $115.00 price target on Uber Inc. (NYSE:UBER), currently trading near its 52-week high at $96.64, following its quarterly webinar with rideshare industry expert Harry Campbell. With a market capitalization of $202 billion, Uber has demonstrated strong momentum, delivering a 46% return over the past six months. According to InvestingPro data, analysts remain bullish with price targets ranging from $76 to $120.
The research firm reports that driver supply conditions remain favorable for Uber’s rideshare and delivery services, with consistently low driver incentives and strong overall availability. This aligns with Evercore’s recent U.S. Ridesharing Survey findings that indicate stable consumer demand. The company’s operational efficiency is reflected in its impressive financial performance, with revenue reaching $45.38 billion and a healthy gross profit margin of 33.6%.
Waymo’s autonomous vehicle partnership with Uber in Austin has shown promising results, potentially opening doors for expansion to additional markets like Miami and Washington D.C. The report notes that Uber can help drive utilization for Waymo vehicles during off-peak hours.
Insurance costs continue to present challenges for the rideshare industry, with Uber implementing driver scoring systems and telematics to improve safety metrics. The company’s partnership with Alto, which manages Uber Black fleets in Los Angeles and Miami, has helped transfer insurance liability and reduce costs.
Moove’s recent $1.2 billion financing deal, which could fund approximately 3,500 Waymo vehicles, signals positive economics in the Waymo-Uber partnership. This development suggests a foreseeable payback period for autonomous vehicle investments in the near to medium term. With revenue growth of 17.6% and strong profitability metrics, Uber continues to demonstrate solid execution. For deeper insights into Uber’s financial health and growth prospects, including 14 additional ProTips and comprehensive valuation analysis, visit InvestingPro.
In other recent news, Uber Technologies Inc . has been named the official rideshare and on-demand delivery partner for the LA28 Olympic and Paralympic Games. This partnership will see Uber facilitating transportation throughout Los Angeles and providing on-demand delivery services for athletes and spectators. In financial developments, BofA Securities has raised its price target for Uber to $115, citing potential tax benefits for drivers as a contributing factor. Additionally, Uber Eats has expanded its grocery delivery services by partnering with six regional supermarket chains, enhancing its offerings across various U.S. locations. Meanwhile, Bernstein has maintained its Outperform rating on Uber amid discussions about a potential deal involving the acquisition of Pony.ai’s U.S. operations. These discussions are still in preliminary stages and could involve an equity investment from Uber. Lastly, Uber will also support NBCUniversal’s coverage of the Milano Cortina 2026 and Los Angeles 2028 Olympic and Paralympic Games, further extending its involvement in major global events.
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