The latest earnings report shows that Uber achieved GAAP operating profit of more than $1 billion for the first time in Q3 2024, with revenue up 20% year-over-year, advertising business up 80%, and Uber One membership reaching 25 million.
\-Valuation metrics: price-to-earnings (TTM) ratio of 17.19, lower than some companies in the same industry; price-to-book ratio of 7.6x, indicating that the market recognizes its growth potential.
\- Analysts' price target: Average price target is $88.40-89.41, with the highest forecast at $115, representing a potential upside of about 12%-47%.
UBER's current trend is long, and both technical and fundamentals support the upside of the stock price, but we need to pay attention to the market reaction before and after the release of earnings and the dynamics of competition in the industry. If it breaks above the $87 all-time high, it may accelerate its rise; conversely, if it fails to stabilize at $80, it may face consolidation pressure in the short term.
