Uber Technologies Inc. UBER is set to announce its fourth-quarter financial results on Wednesday before the opening bell. Here’s a look at what to watch when the company reports.
What To Watch: Investors will be interested in several of Uber’s key performance indicators including gross bookings and monthly active platform consumers, MAPCs.
Uber’s gross bookings grew by 16% to $40.97 billion in the third quarter, though this growth rate was slower than the previous year. The company reported 161 million users in the third quarter, up 13.4% year-over-year.
Uber delivered record quarterly margins for both Mobility and Delivery in the third quarter and the Street will be looking to see if the ride-hailing giant can deliver again.
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Expert Ideas: Several analysts updated coverage on Uber stock heading into the fourth-quarter print:
- UBS analyst Lloyd Walmsley maintained with a Buy but lowered the price target from $114 to $107.
- Piper Sandler analyst Thomas Champion maintained an Overweight rating and lowered the price target from $98 to $82.
- Cantor Fitzgerald maintained its Overweight rating and raised the price target from $75 to $80.
- Needham analyst Bernie McTernan reiterated with a Buy and maintained a $90 price target.
According to estimates from Benzinga Pro, analysts expect Uber to report quarterly earnings of 49 cents per share on revenue of $11.77 billion. The company missed expectations on both the top and bottom lines in the third quarter.
Uber shares are up more than 15% year-to-date after trading mostly flat through 2024.
UBER Price Action: According to data from Benzinga Pro, Uber shares rose 3.66% in Tuesday’s session to close at $69.75.
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