Truist lowered the firm’s price target on Uber (UBER) to $95 from $99 but keeps a Buy rating on the shares. The company’s Q3 results and Q4 guide were “in line plus”, showing sustained momentum across Mobility & Delivery fueled by a resilient consumer, sticky products across both offerings and operational efficiencies that helped drive record free cash flow and margins, the analyst tells investors in a research note. Uber’s gross bookings growth is decelerating, but the new Delivery & Mobility use cases and Uber One are driving higher Monthly Active Platform Consumers – MAPCs – and order frequency, which should help sustain mid-teens CAGR in gross bookings with strong margin accretion through 2026, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on UBER:
- Uber price target raised to $82 from $80 at RBC Capital
- Uber price target lowered to $90 from $97 at Wells Fargo
- Uber earnings selloff a buying opportunity, says JPMorgan
- Uber price target raised to $95 from $80 at JMP Securities
- 3 Best Stocks to Buy Now, 11/1/2024, According to Top Analysts
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
