Uber Stock Is Up a Phenomenal 120% in 1 Year: But Is Now the Time to Buy?
Uber Technologies (NYSE: UBER) helped spearhead the so-called gig economy, allowing anyone with a car to start making money almost instantly. This disruptive internet enterprise wasn't always a great investment, though, as shares were down 45% exactly three years since they started trading.
After really disappointing shareholders during the period after its initial public offering in May 2019, this transportation-as-a-service stock has been crushing it more recently, up a phenomenal 120% in the past year alone. Is now the right time to buy Uber?
Uber's business is exhibiting strong momentum as of late. It ended 2023 reporting $37.3 billion of revenue. That was up 17% year over year, and it was 165% higher than pre-pandemic 2019. The last year's financial results were propelled by $137.9 billion in gross bookings (up 19% year over year), 150 million monthly active users (up 15%), and 9.4 billion trips (up 24%).
Source Fool.com
Uber Technologies Inc Stock
With 69 Buy predictions and not a single Sell prediction Uber Technologies Inc is an absolute favorite of our community.
As a result the target price of 78 € shows a positive potential of 29.14% compared to the current price of 60.4 € for Uber Technologies Inc.
