Uber Stock Forecast: Macroeconomic factors and lawsuit, stock down by 5%

Uber Stock Forecast: Macroeconomic factors and lawsuit, stock down by 5%

Uber Stock Forecast: For the past 5 days, the stock price fell by 7.50%. This can be a consequence of lawsuit showing up in front of the company’s hand. The macroeconomic factors so far weren’t also in their favor. The company also incurred a net loss.

Uber Stock Forecast: Fundamentals

Fundamental Analysis – total market capitalization is $56.3 billion and total shares outstanding for this year is 1.9 billion. The earnings per share is -$4.5, it tells that the company is incurring hefty losses and wiping out its stock price. The PE ratio for the same is -6.27x.

Uber Stock Forecast: Latest News

  • Uber to scale up in the health market – Uber Health partnered up with Medicaidand Medicare Advantage and got a clear idea of how to dominate this market. It is now strategizing to service the employer side of the health care industry. If this plan is executed a doctor or a caregiver can easily end up making home visits.
  • Tablets for drivers with 4.84 ratings –  Uber gives away tablets to its drivers meeting 3 conditions and they are 1. Completing an average of 300 rides per month. 2. Headrest and portable USB and last criterion for the driver is to have 4.84 ratings. This step can help increase ad revenue generation and help driver to earn more tips.
  • Securities class lawsuit to be filed – This autumn, the stock price fell drastically after the leak of documents that disclosed how Uber bribed foreign governments and cared less about driver’s safety for the sake of growth of the company.

Uber Stock Forecast: Latest price targets

Overall Average$61
Truist Securities$60
 Cowen & Co.$70
Needham$54

Uber Stock Forecast: Latest Video

YouTube video

Uber Stock Forecast: Latest Quarter 3 results

  • Revenue generated in 3rd quarter is $8.34 billion versus $8.07 billion in the 2nd Quarter.
  • Net Loss in Q3 was $1.21 billion versus a net loss in Q2 was $2.6 billion.
  • Earnings loss per share was -0.21 in Q3 which increased from Q2 was -0.03.
  • Mobility gross bookings grew by 26% YOY bringing $29 billion. The monthly active platform till the 30th of September closed up to 124 million.

Also Read: Evgo Stock Forecast

Uber Stock Forecast: Why is the stock price dropping?

 For the past 5 days, the stock price fell by 7.50%. This can be a consequence of lawsuit showing up in front of the company’s hand. The macroeconomic factors so far weren’t also in their favor. The company also incurred a net loss. However, things may turn bright since the crude oil prices are softening amidst the end of the Russia-Ukraine war. The company is expanding into the healthcare sector which can bring an upside in the stock price.

uber stock forecast

-Priyanshi Shah

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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