After analyzing the cost inputs of U.S. ride-sharing, JMP Securities analyst Andrew Boone found that over 40% of ride-sharing costs go to driver labor, and as technology replaces this variable cost with fixed costs, adoption of ride-sharing services will increase, expanding the market, the analyst tells investors in a research note. The firm, which reiterated its Outperform rating and $95 price target on Uber (UBER), says it thinks Uber has multiple options to retain its market position, while autonomous vehicles expand its opportunity.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on UBER:
- The Federal Trade Commission Launches an Investigation into Uber (NYSE:UBER)
- FTC investigating Uber over consumer protection laws, Bloomberg reports
- Uber Scaled Solutions to compete with TaskUs, says Morgan Stanley
- Uber introduces Scaled Solutions to enable AI and MT for enterprises
- Uber price target raised to $103 from $96 at Tigress Financial
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
