Wall Street is now bullish on Uber stock ( NYSE:UBER ), with no analysts advising investors to sell.
The ride-hailing firm was heavily damaged during the epidemic, but it is today stronger than ever.
Uber Stock Market Analysis
Uber’s stock ( NYSE:UBER ) price is still down 56% from its all-time high , but Wall Street is very optimistic about it, indicating that now may be a great moment to purchase. The Wall Street Journal examined 45 analysts, and 36 of them (or 80%) gave Uber its highest-possible buy recommendations.
Here’s why investors should follow that advice.
Uber is expanding and consolidating its position.
Uber’s first goal was to disrupt the established taxicab industry by leveraging technology to make the experience quicker, cheaper, and more convenient. With the push of a button, almost anybody with a smartphone may now summon a vehicle. It’s reasonable to say the company was a success, so much so that it’s now attempting to integrate the whole taxi industry onto its platform by 2025.
However, Uber has grown into other industries like food and package delivery, as well as an expanding freight industry . At the height of the epidemic, they were significant income generators for the firm, as Uber Eats and similar services were some of the key means for users to continue enjoying meals from their favorite eateries. That platform expanded even further by including a supermarket and other retail shop deliveries. It confronts increasing competition, but other carriers l...
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