rtmark
LearnBonds.com

Uber Stock Price Hit The Bottom; Its A Buying Opportunity

Uber

Uber (NYSE: UBER) stock price has hit the bottom of selloff after losing close to 35% of the value in the past couple of months. The stock has recently hit 52-weeks low of $26 a share.

Uber CEO Dara Khosrowshahi bought 250,000 shares this week. This shows that the stock has limited downside and investors have started capitalizing on the buying opportunity.

Its recent financial results along with the robust outlook are likely to support the share price. Analysts are also showing confidence in future fundamentals.

UBER Uber Technologies, Inc. daily Stock Chart

Analysts Upgraded Uber Stock Price to Buy

Argus has upgraded Uber from Hold to Buy. They provided a target price of $35, citing an improving competitive environment for the Eats and ride-hail businesses. The firm says Uber’s fundamentals are strong despite the steep share price selloff. The firm sees the dip as a buying opportunity.

Wedbush has provided a share price target of $45. Wedbush analysts expect Uber share price to bounce back if the company executes flawlessly in the following quarters.

Robust Revenue Growth Could Provoke Bullish Trend

The company has generated solid financial performance in the third quarter. Its revenue of $3.53 billion increased by 30% from the previous year period. It had generated year over year revenue growth of 14% in the second quarter of this year.

Uber Stock Price Hit...

Moreover, its gross bookings jumped by $3.7 billion to $16.5 billion in Q3. This represents a jump of 29% year-over-year.

In addition, the company is steadily moving towards profitability. It has successfully narrowed third-quarter adjusted EBITDA loss by $71 million compared to the previous year period.

Uber Stock Price Hit...

Dara Khosrowshahi, CEO said, “Rides Adjusted EBITDA is up 52% year-over-year and now more than covers our corporate overhead.”

The company expects a full-year adjusted EBITDA to stand around negative $2.8 billion. This is down from previous guidance for $3-3.2B loss. On the whole, financial numbers and future fundamentals are supporting Uber stock price.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.