Piper Sandler: 'Uber Inc. (UBER) Remains Top-Pick'

Piper Sandler analyst Thomas Champion reiterated an Overweight rating and $103.00 price target on Uber Inc. (NYSE: UBER).

The analyst commented: "Internet Wave 2 Preview: Expect Volatility in Compact Earnings Season. We are most positive on ROKU & UBER; UBER (+) Remains Top-Pick in Gig Economy. We expect 1Q Bookings growth of 23% y/y, or ~19% x-FX driven by 20% reported Mobility and 28% Delivery. We see continued strength out of the rides business in the US & the buyback may exceed our $1.5BN forecast. We’re curious about fuel costs and the driver subsidy recently introduced. We forecast $2.4BN in 1Q EBITDA (5.4% incremental margin; guidance: $2.37-$2.47BN) and $0.69 in Adj EPS ($0.65 to $0.72 guide). We’re more cautious on Lyft where we see the most sensitivity around 1Q EBITDA (~$130MM) and ability to hit ’27 targets."

For an analyst ratings summary and ratings history on Uber Inc. click here. For more ratings news on Uber Inc. click here.

Shares of Uber Inc. closed at $74.70 yesterday.

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