Uber's reversal on underwhelming guidance presents buying opportunity -- analyst

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Hollie Adams/Getty Images News Uber (NYSE:UBER) had a better-than-expected third quarter with mobility and delivery revenue up, gross bookings higher from a year ago, and trips improving by 17% from ...

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opportunity -- analyst\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 22:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4233891-ubers-reversal-underwhelming-guidance-presents-buying-opportunity><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hollie Adams/Getty Images News Uber (NYSE:UBER) had a better-than-expected third quarter with mobility and delivery revenue up, gross bookings higher from a year ago, and trips improving by 17% from ...</p>\n\n<a href=\"https://seekingalpha.com/news/4233891-ubers-reversal-underwhelming-guidance-presents-buying-opportunity\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999015978.USD","symbol_name":"利安颠覆性创新基金A","start_time":0,"source_url":"https://seekingalpha.com/news/4233891-ubers-reversal-underwhelming-guidance-presents-buying-opportunity","article_id":"2480835556","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1231768077/image_1231768077.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480835556","pubTimestamp":1730470790,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Hollie Adams/Getty Images News Uber (NYSE:UBER) had a better-than-expected third quarter with mobility and delivery revenue up, gross bookings higher from a year ago, and trips improving by 17% from 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The company’s profitability also beat expectations by an impressive $0.79. Unfortunately, the outlook for 2024 left investors wanting and drove shares sharply lower early Thursday morning.  While Uber (UBER) has clawed back some of yesterday’s losses, the stock is still expected to close the week lower for a third consecutive week as Wall Street digests FY24 estimates and lack of urgency on share repurchases. J.P. Morgan’s Doug Anmuth sees Thursday’s reversal as a buying opportunity for investors with the “bull case intact” and remains upbeat on the company’s execution against its growth initiatives, commitment to expanding margins, and free cash flow generation.  “We expect Uber to navigate and emerge stronger on the other side of macro given its leadership position in ride-share, steady growth in delivery, ability to expand in other categories, and strong adoption of Uber One.  Wedbush’s Scott Devitt and Dan Ives are also staying positive on Uber (UBER), acknowledging that the street’s expectations have risen as the company continues to deliver solid growth and margin expansion.  “We think Uber is well positioned to deliver mid-teens bookings growth over the intermediate term with rising margins and strong free cash flow conversion,” Devitt and Ives said in their research note.  On the company’s earnings call, CEO Dara Khosrowshahi painted an equally upbeat outlook for the company with a focus on investing in less dense areas, autonomous driving through its partnership with Waymo, and expanding delivery service. “The opportunity [in Mobility and Delivery] is very, very significant,” Khosrowshahi said on the call, adding that, “it will be a tailwind to our core business in terms of growth over the next 2–3 years and hopefully even more than that.”  For Q4, Anmuth forecasts Mobility gross bookings of $22.7B and to generate ~$1.8B in EBITDA, and Delivery momentum to continue as Uber One subscribers reach 25M and higher cross-platform activity. J.P. Morgan reiterates its Overweight rating and $95 price target, while Wedbush maintains its Outperform rating and $86 price target.  Wall Street analyst and Seeking Alpha authors are also bullish on Uber (UBER) with a Buy rating, although Seeking Alpha's Quant rating views Uber (UBER) as a Hold.  Uber (UBER) shares are up 1.5% on Friday, with Lyft (LYFT) higher by 3.7%.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480835556"}