Amanda Ginsberg, a director at Uber Technologies, Inc. (NYSE:UBER), has reported a series of stock purchases totaling $57,782, according to a recent filing. The transactions occurred over several months, with shares acquired at prices ranging from $21.331 to $32.272 each. The company, now valued at $127 billion, has shown strong profitability with $4.4 billion in net income over the last twelve months. According to InvestingPro analysis, the stock currently trades below its Fair Value. These purchases have increased Ginsberg’s direct ownership to 17,411 shares. The transactions were disclosed in a Form 4 filed with the Securities and Exchange Commission. With the stock currently trading at $60.21, Uber has demonstrated remarkable financial health, earning a "GOOD" rating from InvestingPro, which offers 13 additional investment tips and a comprehensive Pro Research Report for deeper analysis of this prominent player in the ground transportation industry.
In other recent news, Uber Technologies Inc . has been a center of attention due to several significant developments. Bernstein, a division of SocGen Group, maintained an Outperform rating for Uber, projecting a 15% Compound Annual Growth Rate in Gross Bookings and a 32% CAGR in Earnings Per Share from 2024 to 2026. Jefferies reaffirmed its Buy rating and emphasized the importance of autonomous vehicle partnerships for Uber’s future. TD Cowen reiterated a Buy rating, highlighting the growth potential within Uber’s Delivery segment.
General Motors Co (NYSE:GM) announced it will cease funding for Cruise’s robotaxi, a development that has implications for Uber due to their previous partnership. Waymo, an autonomous driving technology company, revealed plans to expand to Miami in collaboration with Uber-supported Moove, a move that Jefferies believes could benefit Uber. BTIG maintained its Buy rating on Uber, emphasizing the company’s successful strategy in managing insurance costs through fare adjustments.
InvestingPro analysis indicated high growth expectations for Uber. If Robotaxi can lower the cost to consumers sufficiently, even with a 50% reduction in Uber’s take-rate, it could more than double the company’s revenue. Uber is expected to leverage its lower cost of service and higher utilization rates with the advent of multiple Robotaxi providers. These are recent developments that investors might want to consider.
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