Uber Partners with Avride to Tackle Robotaxi Competition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Fool
- Market Competition Pressure: Melius Research analyst downgraded Uber's stock from hold to sell, citing increased competition risks from the rise of robotaxis, despite the company's market cap still standing at $178 billion.
- Forward-Looking Technology Strategy: Uber plans to implement Nvidia's self-driving platform in 100,000 vehicles by 2027, showcasing its proactive approach in the autonomous driving sector to maintain market leadership.
- Changing User Habits: The number of licensed drivers aged 19 and under in the U.S. has dropped from nearly 12 million in 1978 to under 9 million in 2023, indicating a growing reliance on ride-hailing services among younger consumers, which could drive Uber's long-term growth.
- Significant Brand Advantage: Despite competition, Uber's status as the most recognized brand in the industry provides it with strong market awareness, enabling it to maintain a competitive edge during the transition to autonomous taxis.
Analyst Views on UBER
Wall Street analysts forecast UBER stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UBER is 115.96 USD with a low forecast of 84.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
28 Analyst Rating
25 Buy
3 Hold
0 Sell
Strong Buy
Current: 85.540
Low
84.00
Averages
115.96
High
150.00
Current: 85.540
Low
84.00
Averages
115.96
High
150.00
About UBER
Uber Technologies, Inc. operates a technology platform that uses network and technology to power movement from point A to point B. It develops and operates technology applications supporting a variety of offerings on its platform (platform(s)). Its segments include Mobility, Delivery and Freight. Mobility products connect consumers with drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. Delivery offerings allow consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered. In certain markets, the Delivery segment provides offerings for grocery, alcohol, and convenience store delivery as well as select other goods. The Freight segment connects carriers with shippers on its platform, and gives carriers upfront, pricing and the ability to book a shipment. The Freight segment also includes transportation management and other logistics service offerings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
