Uber Technologies (UBER)


February 14, 2024

UBER: Raise Target to $100 After Investor Update

By Steven Fox

Earlier today, Uber Technologies (UBER; $79.15; O/P) hosted a virtual Investor Update, which featured presentations from CEO Dara Khosrowshahi, CFO Prashanth Mahendra-Rajah, as well as Andrew Macdonald, SVP, Mobility and Business Operations; Pierre-Dimitri Gore-Coty, SVP,…

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February 7, 2024

UBER: Healthy Top and Bottom-Line Momentum Continues

By Steven Fox

Uber Technologies (UBER; $70.65; O/P) posted Q4 results and provided Q1E guidance, which once again highlighted robust core growth, led by Mobility, supplemented by a range of new product initiatives and geographic expansion we have…

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February 7, 2024

UBER: First Look at Q4 Results and Outlook

By Steven Fox

Uber Technologies (UBER; $70.47; O/P) posted Q4 adjusted EBITDA of $1,283mm (3.4% of gross bookings), which beat our forecast of $1,231mm (3.3% of gross bookings) and the Street’s $1,225mm (3.3% of gross bookings). Revenue of…

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February 2, 2024

UBER: Time to Play the Expectations Game

By Steven Fox

We stick with our Outperform on the shares of Uber Technologies (UBER; $66.73) ahead of next Wednesday’s Q4 print (2/7 before market) and its virtual Investor Update on 2/14 (also before market). Admittedly, the “bar…

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January 16, 2024

UBER: Last Call for Drizly

By Steven Fox

Yesterday (1/15), Uber Technologies’ (UBER; $63.51; O/P) Drizly on-demand alcohol marketplace in the U.S. sent out an email to customers, which disclosed its plans to cease operations at the end of March. Recall, Uber acquired…

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December 26, 2023

UBER: Further Expanding Its Opportunity Set; Raise Target to $75

By Steven Fox

We think recent news flow related to Uber Technologies (UBER; $61.71; O/P) further highlights a range of global secular drivers that can continue to enhance the company’s business model over time. Most importantly, Japanese regulators…

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December 1, 2023

UBER: Adds an Important Taxi Opportunity

By Steven Fox

On Wednesday (11/29), Uber Technologies (UBER; $56.75; O/P) announced plans to start onboarding black cabs in London to its platform starting in “early 2024”, which further adds to a new product story for its Mobility…

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November 27, 2023

UBER: More New Experiments to Consider

By Steven Fox

Recent news flow out of Uber Technologies (UBER; $56.06; O/P) highlights how the company continues to engage in a range of new category and new product opportunities, admittedly as per below more on the “experimental”…

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November 16, 2023

UBER: Taking Steps to Further Improve Driver Supply

By Steven Fox

Earlier this week, Uber Technologies (UBER; $54.20; O/P) announced a series of improvements to its driver and courier app that are aimed at improving safety, enabling more efficient rideshare and delivery trips, while also addressing…

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November 7, 2023

UBER: More Top and Bottom-Line Momentum

By Steven Fox

We raise our 2023E and 2024E EBITDA for Uber Technologies (UBER; $49.75; O/P) from $3.8B and $5.5B to $4.0B and $5.7B after the company reported a healthy “across the board Q3 beat”, outside of some…

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November 7, 2023

UBER: First Look at Q3 Results and Outlook

By Steven Fox

Uber Technologies (UBER; $48.14; O/P) posted Q3 adjusted EBITDA of $1,092mm (11.8% of sales), which was comfortably ahead of our forecast of $1,000mm (10.5% of sales) and the Street’s $1,018mm (10.7% of sales). Sales of…

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October 31, 2023

UBER: Look for Conversion Margins to Drive Stock Higher

By Steven Fox

We remain bullish on the shares of Uber Technologies (UBER; $43.02; O/P) ahead of its Q3 print next Tuesday (11/7 before market) and stick with our Q3E gross bookings of $34.5B (+3% QoQ and +19%…

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October 11, 2023

UBER: Stock Poised for Another Leg Up

By Steven Fox

We see recent price consolidation in the shares of Uber Technologies (UBER; $46.63; O/P) as an attractive entry point ahead of its Q3 print in a few weeks. We think this is even the case…

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September 26, 2023

UBER: Another Buying Opportunity

By Steven Fox

The shares of Uber Technologies (UBER; $44.27; O/P) have now retreated 11% since the end of July, albeit in a weak tech tape (-9% for NASDAQ over the same period), but despite a subsequent Q2…

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September 14, 2023

UBER: Announces Some New Grocery Engagements

By Steven Fox

This week, Uber Technologies (UBER; $48.32; O/P) announced two new grocery partnerships, ironically well timed with the upcoming IPO of Maplebear (d/b/a Instacart), which we evaluated in a note yesterday (“Insta Analysis of CART”; 9/14)….

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