Pro Research: Wall Street dives into Uber's robust growth outlook
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Uber Technologies Inc . (NYSE:UBER) has been a consistent topic of interest on Wall Street, with analysts closely monitoring its performance and growth trajectory. The company, known for its global presence in Mobility and Delivery services, has been expanding its non-UberX products and seeing a growing share of bookings across new verticals. This deep-dive analysis will explore Uber's market performance, detailed breakdown of product segments, competitive landscape, market trends, regulatory environments, customer base, management, strategy, and potential impacts of external factors.
Uber's Mobility and Delivery services have been the cornerstone of its business, with analysts expressing confidence in the company's above-consensus 2024 bookings estimates for these segments. A clear path to approximately $6 billion of EBITDA in 2024 has been projected, with the company's inclusion in the S&P 500 seen as a significant near-term technical catalyst for the stock. Uber's performance has been strong, with the stock experiencing a +29% increase, outperforming NASDAQ's +15%.
Analysts have highlighted the importance of non-UberX products, which are expected to account for about 35% of incremental
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