Analyst: Uber’s 2024 target will ‘prove very conservative’

on Mar 25, 2022
  • Jason Tauber makes a bull case for Uber on CNBC's "TechCheck".
  • Uber said it will now list New York City's yellow cabs on its app.
  • The stock has almost cut in half over the trailing twelve months.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Uber Technology Inc (NYSE: UBER) stock has cut almost in half over the trailing twelve months, but a Neuberger Berman analyst hasn’t yet lost all hope in the mobility company.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Tauber explains why he’s positive on Uber

Copy link to section

Jason Tauber sees several signs that suggest the ride ahead with Uber will be a rewarding one. To begin with, the California-based company will pull out of loss this year. On CNBC’s “TechCheck”, he said:

We’re looking at positive free cash flow. About $700 million in adjusted EBITDA. I think their target of $5.0 billion in adjusted EBITDA through 2024 will prove very conservative. That represents only 3.0% adjusted EBITDA margin on bookings.

A day earlier, Uber said it will now list New York City’s yellow cabs on its app, much like it does in several other markets, including Germany.

Uber raised guidance for adjusted EBITDA

Copy link to section

Earlier this month, Uber raised its guidance for adjusted EBITDA in the current quarter. Tauber’s bullish outlook also stems from the growth in Uber’s market share. He added:  

They’re gaining share in U.S. across rides and Eats business. We haven’t fully recovered post-pandemic. It’s an asset light business that operates in #1 spot in many markets and duopoly in others. Stock has underperformed but company can regain the mantle as one of the true tech leaders.

Also bullish on Uber is Deutsche Bank that recently assigned a price target of $50 on the stock, representing a 50% upside from here.


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

Learn more
USA North America Services Stock Market Tech Transport & tourism World