Is Uber Technologies Stock Going to $100? 1 Wall Street Analyst Thinks So
Shares of Uber Technologies (NYSE: UBER) dipped following its first-quarter earnings results. The company continued to show solid top- and bottom-line growth, but Jefferies analyst John Colantuoni attributed the stock's fall to a rare miss in mobility bookings.
Uber's mobility bookings grew 26% year over year in the quarter, which was below expectations. However, Uber said this included a one-point headwind from de-consolidating the non-ridesharing portion of the Careem business last year. But other key performance metrics looked solid, most notably continued improvement on the bottom line.
The analyst maintained a "buy" rating on the shares but lowered the price target from $103 to $100, likely to keep the stock's projected upside in line with the recent sell-off. With the shares currently trading at $67, Jefferies is expecting plenty of upside for investors.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 83 Buy predictions and no Sell predictions.
With a target price of 80 € there is a positive potential of 21.97% for Uber Technologies Inc compared to the current price of 65.59 €.
