Uber was originally a technology startup, which was a platform for searching and ordering cabs. The project attracted the attention of venture capital funds and quickly gathered investments for its development. Now Uber shares can be used for short- and long-term investments. Analysts believe that the asset is quite promising, given the company's good financial results and impressive capitalization, which in mid-2022 was more than $44.
Uber Technologies Inc. - is an American company known for developing a mobile app to find and call a cab. It was founded by Travis Kalanick and Garrett Camp in 2009. Over the years, the company has expanded geographically to almost every continent. The platform is available in Asia, Europe, North and South America, Australia, and Africa.
Uber is considered one of the most successful startups in the United States. At the beginning of its development, the project attracted about $ 11.5 billion in venture capital investment during the 14 rounds of investment. Uber had its stock floated on the NYSE in May 2019. At the time of the IPO, the asset was available to investors at $45.
Uber owns a mobile platform of the same name for calling cabs and ordering food deliveries. This app allows you to book a car and track it to a waiting point online. The service can be used both by taxi fleets and private drivers with their vehicles. In most countries, more than 60% of the profit from trips is taken by the driver, and the rest is transferred to Uber as payment for using the app.
Initially, the platform was used by drivers of executive cars. However, since 2012 the mobile app has been available to owners of economy cars. On the platform, you can also order services for pet transportation, food delivery, and car rental.
The latest news on the stock price
Uber Technologies' stock rose 19% on August 2, 2022, after the company released its financial report for the second quarter of this year. Such growth in quotes was due to an increase in revenue by 105%. This figure significantly exceeded analysts' forecasts. After the platform's revenue decline in 2020, business is gradually recovering, so Uber shares are once again becoming an attractive asset for investors.
In the second half of August, the Uber share price sagged slightly. However, the drop in quotations was not as critical as that of other growth stocks. Securities of even the largest companies are becoming cheaper amid rising Fed rates, expectations of recession, and increased inflation.
Uber's revenue in the second quarter of 2022 reached $8.1 billion. This figure exceeded analysts' forecasts by $700 million. The platform's net loss was $2.6 billion. Such expenses are partly due to an equity investment. Uber's net loss per share is $1.33. Net income on an adjusted EBITDA basis in the second quarter of 2022 was $364 million, compared to a net loss of $509 million in the first quarter of this year.
Analysts' forecasts for the company's revenue in the coming years look quite optimistic. So, by the end of 2022, this figure may grow by 80% to $31.4 billion. If the platform continues to grow and increase the number of active users, its revenue may reach $36.4 billion in 2023. In this case, this figure will increase by another 16%. Adjusted EBITDA is expected to be $1.5 billion by the end of 2022, and could rise to $3.3 billion by 2023.
We used an AI-based technical analysis program to predict Uber stock. Based on our research, we can assume that this asset will trade at an average price of $29 in 2023. In 2025, Uber's stock price could drop to $26. By 2030, analysts expect the quotes to rise to $30 again. Technical analysis data shows a likely decline in the value of Uber stock in the coming years from the $30 price level at the time of writing (September 22, 2022).
In March 2020, Uber stock was trading at $28. Until November 2020, the company's quotes did not move into active growth. This was due to the decline in demand for cabs during the first lockdowns and the rapid rise in the incidence of the coronavirus. At the end of 2020, Uber's stock price began to rise and reached $54 in April 2021.
To start trading shares in the real stock markets, log into your personal DotBig account. In your account, you can fund your trading account, choose the best rate, and start the trading terminal.
From September 2021 to September 2022, Uber's stock quotes dropped from $46 to $30.
DotBig offers an auto copying service, trading signals, and proprietary advisor programs to trade the stock in automatic mode.
To authorize on the website and create a personal account, fill out the form, indicating your name, phone number, email address.
After registration, provide an identity document to verify your age and place of residence.
To start trading real money, the initial deposit can be made in any available way.
You can open/close deals on your own under the guidance of an experienced analyst or copy them from other traders.
No trading experience? Not a problem! With social trading, you can copy the trades of the best DotBig traders. Follow the rating and make a profit.Start trading