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Investing.com - Guggenheim has reiterated its Buy rating and $140.00 price target on Uber Inc. (NYSE:UBER), currently trading at $92.21 with a market capitalization of $192.3 billion, ahead of the company’s third-quarter earnings report scheduled for Tuesday, November 4. According to InvestingPro analysis, Uber maintains a "GREAT" financial health score, suggesting strong fundamentals.
The firm expects Uber’s third-quarter Mobility Gross Bookings growth (excluding foreign exchange effects) to remain consistent with the second quarter at 18.0%, aligned with the company’s overall revenue growth of 18.15% over the last twelve months. Guggenheim’s analysis of third-party Apptopia download data indicates healthy global trends in the third quarter.
Guggenheim anticipates Uber will continue to pass insurance savings to consumers over the next 12-18 months, citing slowing CPI and upcoming California legislation enactment as contributing factors.
The research firm identified the sustainability of strong Delivery Gross Bookings growth as a key topic for the third-quarter results, noting that its 2026 forecast is 300 basis points ahead of consensus estimates, which imply average quarterly deceleration of 110 basis points.
Uber stock has underperformed since its second-quarter earnings report, declining 0.5% compared to the S&P 500’s 5.7% gain, which Guggenheim attributes largely to long-term competitive concerns, including Waymo’s London announcement on October 15 and the DoorDash-Waymo partnership announced on October 16.
In other recent news, Uber Technologies Inc. is preparing to release its third-quarter earnings report, with Bernstein projecting a 19% year-over-year growth in Mobility trips and 15-16% growth in Delivery trips. Additionally, TD Cowen has maintained a Buy rating on Uber, with a price target of $108, citing strong growth in both its Mobility and Delivery segments. Guggenheim has also initiated coverage on Uber with a Buy rating and a $140 price target, highlighting the company’s industry-leading network and brand equity. In a strategic move, Uber has acquired Belgian startup Segments.ai to bolster its data-labeling business. This acquisition will see the founders of Segments.ai and their team joining Uber’s data-labeling division. Furthermore, Uber is introducing a new earning option for U.S. drivers by adding "digital tasks" to its app, allowing drivers to earn extra income by completing assignments such as uploading restaurant menus and recording audio narrations. These developments reflect Uber’s ongoing efforts to expand its service offerings and strengthen its position in the market.
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