Mark Mahaney, an analyst from Evercore ISI, maintained the Buy rating on Uber Technologies (UBER – Research Report). The associated price target remains the same with $115.00.
Mark Mahaney has given his Buy rating due to a combination of factors that highlight Uber Technologies’ potential for growth and profitability. One of the key reasons is the anticipated revolution in the ridesharing industry driven by advancements in autonomous vehicles (AVs) and robotaxi services. With companies like Waymo planning to expand their test vehicles to new cities and launching partnerships with Uber, there is a strong belief that Uber will benefit significantly from these developments in the long term.
Additionally, Waymo’s increasing market share and improved operational metrics, such as faster pick-up times and competitive pricing compared to other services, reinforce the positive outlook for Uber. The strategic positioning of Uber to capitalize on the growing AV market and the projected $3 trillion total addressable market (TAM) for autonomous vehicles further supports the Buy rating. These factors combined suggest that Uber is well-positioned to leverage the upcoming technological advancements in the ridesharing sector, making it an attractive investment opportunity.
In another report released on February 28, Bank of America Securities also maintained a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is neutral on the stock.