Today, ride-share giant Uber (NYSE:UBER) shared its long-term earnings expectations as part of its first-ever Investor Day. The company predicts reporting $5 billion in adjusted profit by the end of 2024, below expectations of $5.7 billion. As a result, UBER stock, which saw a nearly 4% uptick prior to the announcement, is now down 3.2%. Uber price predictions are out in full force today as investors ponder getting in on the high-growth tech company during the dip.
So, what’s going on with Uber lately?
Well, today’s investor day outlook comes as a follow-up to Wednesday’s strong Q4 earnings report. Uber reported revenue of $5.8 billion, representing 82% year-over-year growth, and gross bookings were up 51%. Uber also shared Q1 2022 expectations, projecting adjusted earnings between $100 million and $130 million.
Uber’s report wasn’t far from analyst expectations, but the company is nonetheless still in the red as a result. Investors everywhere are likely scratching their heads wondering if now is the time to get in on the discounted, high-growth tech stock while the getting is good. Let’s see what the experts think about Uber lately.
Uber Price Predictions
- TipRanks’ panel of 17 Wall Street analysts view UBER stock as a strong buy. They set an average 12-month price target of $63.82, for a more than 63% increase from its current $39 price point. Each of the 17 analysts rated Uber a buy, with an upper-end forecast of $75 per share.
- CNN Business is also bullish on Uber. Of their panel of 46 analysts, 37 rated Uber a buy. Four rated it to outperform, and just five analysts recommended the stock as a hold. They set a median price target of $65 per share, for slightly more than 65% growth over the next year.
- Wallet Investor is surprisingly bearish on Uber. The site set a one-year forecast of $21.79 per share, for a more than 40% decrease. Even more shockingly, it indicates the company will only continue to dwindle. By the beginning of 2024, the site predicts the company will be flirting with a nearly $2 price point, shedding the majority of its value over the next several years.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
