Stifel Starts Uber Technologies, Inc. (UBER) at Buy, Cites Strong Growth
Uber Technologies, Inc. (NYSE:UBER) is among the 10 Best Growth Stocks Under $100 to Buy Now. Analysts at Stifel initiated the 'Buy' rating for Uber Technologies, Inc. (NYSE:UBER), with a price target of $110, highlighting an upside of nearly 27%. The analysts believe the giant can meet or even exceed its 2024 targets, including mid-to-high-teens growth in gross bookings and a high EBITDA compound annual growth rate. The financials of the company reinforce a somewhat similar picture.
Just recently, Uber Technologies, Inc. (NYSE:UBER) inked the acquisition of Taiwan fleet dispatcher Crown Taxi in an attempt to enhance its presence in the Taiwanese market. While the deal is pending regulatory approval, if successful, it can offer Crown Taxi professional drivers a smoother working experience and increase passenger, in general.
A close up view of a hand holding a smartphone, using a ride sharing app.
For a company like Uber Technologies, Inc. (NYSE:UBER), there's a lot to look forward to. The perfect blend of AI, ML, and cloud infrastructure positions the company as more than just a transportation provider. Given its record of losses, the company has managed to build a sustainable business model on the foundations of innovation and smart capital.
Uber Technologies, Inc. (NYSE:UBER) is a California-based developer and operator of proprietary technology applications. With a global presence, the company has three main segments: Mobility, Delivery, and Freight. Founded in 2009, Uber is committed to creating opportunity through movement.
While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
Disclosure: None.
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