What analysts think of the Uber stock prior to earnings

Key takeaways

  • Uber is ready to report earnings in the fourth quarter before Wednesday, with revenue expected to have grown year-over-year, but the profits have fallen.
  • Analysts are Bullish in Uber’s warehouse, with the consensus price targeted by visible alpha over all time.
  • Analysts said that the caution of autonomous vehicles damaging Uber’s stock in 2024 has been “exaggerated.”

Uber Technologies (Uber) is set to report earnings in the fourth quarter before Wednesday, with revenue expected to have grown year by year, but the profits have declined.

Analysts are bullish on the riding hare -giant’s warehouse, where all 25 analysts are traced by visible alpha, who judges it as a “purchase.” The share has an average price target of $ 90.50, which is 35% higher than Friday’s closing level.

Uber is expected to report on a turnover for a turnover of approx. 18% over the year to $ 11.76 billion, according to estimates prepared by visible alpha. However, the company’s net income is expected to have fallen by 27% to $ 1.04 billion as its Q4 2023 profits included a net benefit of $ 1 billion in a revaluation of its stock investments.

Analysts say that autonomous vehicle’s concerns kept in stock in 2024

Bank of America analysts said in a note this week that they believe that the concern about autonomous vehicles that damage Uber’s stock last year is “exaggerated.” They noticed that the stock ended 2024 down 2%, but said this year is likely to bring “better visibility into the long timeline” of rollout and public adoption of autonomous vehicles (AVS) that could provide both opportunities and risks for Uber .

Both Uber and Rival Lyft (Lyft) have signed agreements with a number of AV and Tech companies, such as Alphabet’s (Googl) Waymo and Nvidia (NVDA), to collaborate in the AV movement. The riding sharing companies are also facing competition from Tesla (TSLA), which has said it seems to bring its AVs to the road in certain markets this year.

Uber shares received approx. 11% in January, but is essentially flat over the past 12 months.