3 Reasons I'll Take Uber Stock Over Lyft Despite the Lousy Response to Q1
Given the two stocks' different responses to the release of first-quarter numbers, it would be easy to assume the best for ride-hailing outfit Lyft (NASDAQ: LYFT) while presuming the worst for bigger rival Uber Technologies (NYSE: UBER). Shares of the former soared in response to its Q1 results while Uber stock tanked.
The market may be misreading both sets of quarterly reports, though, and aggravating that mistake by buying Lyft and selling Uber. Uber is actually the better stock to own here, while Lyft arguably isn't worth owning at all. Here's the deal.
It's curious to say the least. Uber turned $10.13 billion worth of revenue into operating income of $172 million last quarter, up 15% from its year-earlier top line, and reversing the Q1 2023 operating loss of $262 million. Analysts were only calling for sales of $10.1 billion.
Source Fool.com
Uber Technologies Inc Stock
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
With a target price of 78 € there is a positive potential of 31.09% for Uber Technologies Inc compared to the current price of 59.5 €.
