What's In Store For Uber In Q2? Analyst Sees 21% Bookings Growth
Portfolio Pulse from Nabaparna Bhattacharya
BofA Securities analyst Justin Post reiterated a Buy rating on Uber Technologies, Inc. (NYSE:UBER) with a price forecast of $87. The analyst projects 21% growth in bookings for Q2 2024, with total bookings, revenue, and EBITDA expected to reach $39.7 billion, $10.6 billion, and $1.52 billion, respectively. Uber's partnership with Costco (NASDAQ:COST) and recent regulatory settlements are expected to drive growth. However, macroeconomic risks and tougher comps in Q3 may lead to some deceleration.
July 31, 2024 | 7:15 pm
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POSITIVE IMPACT
Costco's delivery partnership with Uber is expected to drive growth for both companies. This partnership is highlighted as a key positive development for Uber.
The partnership with Uber is likely to enhance Costco's delivery capabilities, potentially increasing customer satisfaction and sales.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
BofA Securities analyst Justin Post reiterated a Buy rating on Uber with a price forecast of $87. The analyst projects 21% growth in bookings for Q2 2024, with total bookings, revenue, and EBITDA expected to reach $39.7 billion, $10.6 billion, and $1.52 billion, respectively. Uber's partnership with Costco and recent regulatory settlements are expected to drive growth.
The reiterated Buy rating and positive growth projections for Q2 are likely to boost investor sentiment. The partnership with Costco and favorable regulatory outcomes further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100