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On Thursday, Truist Securities expressed continued confidence in Uber Technologies Inc . (NYSE:UBER), maintaining a Buy rating and a price target of $92.00. The endorsement aligns with the broader Wall Street sentiment, as InvestingPro data shows a strong analyst consensus rating of 1.55, with price targets ranging from $68 to $115. The endorsement comes as the firm anticipates the upcoming release of Uber’s first-quarter results, scheduled for May 7, 2025.
Truist Securities’ optimism is fueled by the latest data from the Truist Card, which suggests that Uber’s Mobility services are performing as expected, while its Delivery services are slightly surpassing forecasts. This performance has contributed to impressive revenue growth of 17.96% over the last twelve months, reaching $43.98 billion. The positive data is seen as a reflection of a robust market, supported by a resilient consumer base and the stickiness of Uber’s product offerings. The company’s ongoing platform enhancements and lack of exposure to tariffs also contribute to the favorable outlook, reflected in its GREAT financial health score according to InvestingPro analysis.
Analysts at Truist Securities anticipate that Uber’s guidance for the second quarter of 2025 will align with current expectations. The company’s recent advancements, including the launch of an autonomous vehicle (AV) service with Waymo in Austin, with plans to expand to Atlanta shortly, underscore Uber’s position as a leading partner for AV technology providers. However, Truist Securities noted that accelerated AV adoption by competitors like Tesla (NASDAQ:TSLA) could present a medium to long-term risk for Uber.
The integration of AV services into Uber’s platform is part of the company’s broader strategy to solidify its market presence. Through partnerships with AV industry players, Uber aims to enhance its service offerings and meet the evolving needs of its customers.
Investors and market watchers are now looking forward to Uber’s first-quarter results, which will provide further insights into the company’s performance and its trajectory in the competitive ride-sharing and delivery markets. With the backing of Truist Securities’ Buy rating and price target, Uber’s stock remains in focus as the market anticipates the impact of the company’s strategic initiatives and industry partnerships. For deeper insights into Uber’s valuation and growth prospects, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed analysis of the company’s financial health, market position, and growth trajectory among 1,400+ top US stocks.
In other recent news, Uber Technologies is facing a lawsuit from the U.S. Federal Trade Commission (FTC) over allegations of deceptive practices related to its Uber One subscription service. The FTC claims Uber enrolled users without consent and made misleading statements about subscription benefits. Meanwhile, Uber is reportedly in talks to acquire Trendyol Go, a Turkish food delivery platform, although no agreement has been finalized. Analyst firms have also weighed in on Uber’s prospects. Cantor Fitzgerald maintained an Overweight rating with an $80 price target, anticipating strong bookings and EBITDA results. KeyBanc Capital Markets adjusted its price target for Uber from $85 to $80, citing changing user patterns and a decrease in mobility usage, yet maintained an Overweight rating. BofA Securities continues to support Uber with a Buy rating and a $95 price target, highlighting the growing use of Waymo autonomous vehicles on Uber’s platform in Austin. These developments reflect Uber’s ongoing efforts to navigate legal challenges, explore strategic acquisitions, and leverage partnerships to enhance its market position.
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