It wasn’t too long ago that the ride-hailing market seemed like a race to the bottom, but Uber Technologies Inc. has managed to get on a different path.
Uber UBER , which once faced heated investor skepticism about its ability to satisfy both riders and drivers in a competitive market while also investing in businesses like freight, has won Wall Street’s heart this year, with shares up nearly 100% so far in 2023. That’s key for Uber as analysts begin to anticipate the stock’s inclusion in the S&P 500 SPX at some point next year. To be eligible, Uber would need to show GAAP profitability on a trailing-12-month basis and specifically to sport GAAP profits in the quarter before its potential inclusion.Uber “is poised to deliver on improving profitability, capital discipline and healthy growth,” Bernstein analyst Nikhil Devnani wrote in a note to clients last week.
Stock movement: Uber shares have gained following each of the company’s past four earnings reports, and they’ve seen double-digit percentage increases in three of those four reports. What else to watch for Oppenheimer’s Jason Helfstein sees the stock as his top pick heading into earnings, writing that Uber has the potential to benefit from increased spending on travel and other experiences, as well as the continued return to work.
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Fuente: CNN - 🏆 4. / 95 Leer más »