Crypto News: Uber Gains Momentum with New Endorsement...

Uber Soars After Goldman Sachs' Bold Bet

Folks,

Uber Technologies began the new year with a bang!

The company's shares saw a big surge today, marking its most substantial single-day gain since October.

Investors were particularly energized by Goldman Sachs' decision to add Uber to its prestigious U.S. Conviction List.

Goldman Sachs analyst Eric Sheridan expressed optimism about the company's ability to achieve sustainable profitability.

He pointed to Uber's growing portfolio of partnerships with autonomous vehicle (AV) players as a key driver of future success.

Over the past year, Uber has formed five new AV partnerships and expanded its collaboration with Waymo, Alphabet's subsidiary.

Goldman Sachs also set a bold price target of $96 for Uber's stock.

The firm highlighted multiple growth avenues for the company, including mid-to-high teens mobility booking growth over the next two to three years.

Delivery bookings are similarly expected to grow at a mid-teens rate, further bolstering Uber's financial outlook.

Despite these bullish projections, challenges loom...

JMP Securities downgraded Uber to a market perform rating, raising concerns about the impact of autonomous vehicles on the traditional ride-hailing model.

Analyst Andrew Boone warned that competitors like Waymo could outpace Uber in the autonomous vehicle space, threatening its market share.

This could offset any benefit that the ride-hailing giant gets from the AV partnerships.

Waymo's rapid expansion is a significant competitive pressure for Uber.

The company now delivers over 175,000 weekly rides in cities like Phoenix, San Francisco, and Los Angeles.

This rise of fully autonomous services raises questions about Uber's strategy to maintain its dominance.

Yet, Uber's recent stock performance reflects renewed investor confidence.

Its Relative Strength Rating, which dipped in late 2024, has rebounded with the latest surge.

This improvement signals positive sentiment among market participants heading into 2025.

Other analysts are also backing Uber as a top stock for the new year.

Evercore ISI included Uber in its list of large-cap internet sector favorites, citing the potential of robotaxis and stable mobility bookings.

This endorsement complements Goldman Sachs' bullish stance, adding to the optimistic narrative surrounding Uber.

As the transportation sector evolves, Uber's ability to stay ahead of competitors will define its trajectory.

The interplay between traditional and autonomous services could ultimately reshape the company's future.

For now, Goldman Sachs' endorsement offers a vote of confidence in Uber's resilience and vision.

Anyways...

That's all for now!

Until Next Time,

-Damian

P.S. Want our text alerts?

Text "ZIPTRADER" to 1-(855)-228-1598 to sign up!
(standard carrier data/text rates apply)

ZIPTRADER LLC

5101 SANTA MONICA BLVD STE 8 #62, 90029, LOS ANGELES, CA

You've received it because you've subscribed to our newsletter or are a member of ZipTraderU.

This email was sent to reunisoft.cryptonews@blogger.com

BY READING THIS EMAIL & ALL ZIPTRADER CONTENT YOU AGREE: This is not financial advice. You must do your own due diligence on all information. ZIPTRADER LLC is a publishing company and we provide general information, opinions, & news coverage to viewers. However – we do not provide personalized financial advice, are not financial advisors, and our opinions are not suitable for all investors. You should not treat any opinion as expressed as a specific inducement to make a particular investment or follow a particular strategy, but just as an opinion. Use at your own risk. Past Performance is not indicative of future results, and any results presented are not typical, and should not be understood as typical. Actual results vary given a variety of factors such as experience, skill, risk mitigation practices, market dynamics and the amount of capital deployed. TRADING IS RISKY: Most traders in all markets lose all of their money (and more if they use margin). Most small businesses fail. Do NOT partake in trading, investing, entrepreneurship or any other risky endeavor covered here if you are not prepared with the reality that most fail. We reserve the right to have affiliate relationships with advertisers/sponsors. See Full Terms of Service.See Our Advertisement/Sponsored Stock Disclaimer.

View in browser | Unsubscribe

Crypto News

Thursday, January 2, 2025

Uber Gains Momentum with New Endorsement...

No comments:

Post a Comment

Where AI, Quantum, and Trump’s Great Reset Meet

Search This Blog