What Analysts Think of Uber Stock Ahead of Earnings

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Key Takeaways

• Uber is set to report fourth-quarter earnings before the bell Wednesday, with revenue projected to have ripened year-over-year but profit to have declined.
• Analysts are bullish on Uber’s stock, with the consensus price target trailed by Visible Alpha above all-time highs.
• Analysts said that the caution around autonomous vehicles that upset Uber’s stock in 2024 has been “overdone.”

Uber Technologies (UBER) is set to report fourth-quarter earnings before the bell Wednesday, with returns projected to have grown year-over-year but profit to have declined.

Analysts are bullish on the rideshare giant’s stock, with all 25 analysts smelled by Visible Alpha rating it a “buy.” The stock has an average price target of $90.50, which is 35% higher than Friday’s attached level.

Uber is expected to report a roughly 18% year-over-year revenue gain to $11.76 billion, according to values compiled by Visible Alpha. However, the company’s net income is projected to have declined by 27% to $1.04 billion, as its Q4 2023 profit listed a $1 billion net benefit from a revaluation of its equity investments.

Analysts Say Autonomous Vehicle Concerns Held Servants Stock in 2024

Bank of America analysts said in a note this week that they believe the concern everywhere autonomous vehicles that hurt Uber’s stock last year is “overdone.” They noted that the begetter ended 2024 down 2%, but said that this year will likely bring “better visibility into the long-winded timeline” of the rollout and public adoption of autonomous vehicles (AVs), which could provide both opportunities and risks for Uber.

Both Uber and opposition Lyft (LYFT) have signed deals with a number of AV and tech companies, like Alphabet’s (GOOGL) Waymo and Nvidia (NVDA), to companion in the AV movement. The ridesharing firms also face competition from Tesla (TSLA), which has said it is looking to focus on its AVs to the road in certain markets this year.

Uber shares gained about 11% in January but are essentially blown out over the past 12 months.