Stock Groups

Is Uber Stock a Buy After Raising its Outlook? By StockNews

by Mike Robinson

[ad_1]

© Reuters. Uber Stock: Is it a buy now that the company has raised its outlook?

Uber’s (UBER) shares surged after the company raised its guidance for the upcoming quarters on September 21. But, is the stock still gaining despite being under increasing scrutiny? Let’s find out.Popular ride-hailing services provider Uber Technologies, Inc. (NYSE:) also provides delivery and freight services. Additionally, the company is investing in autonomous driving technology as well as urban air transport. According to an August 21 8-K, the company stated that gross bookings for the third quarter are estimated at between $22.80 and $23.20 Billion. Also, CFO Nelson Chai said, “With positive Adjusted EBITDA in July and August, we believe Uber is now tracking towards Adjusted EBITDA breakeven in Q3, well ahead of our prior guidance.”

The stock has gained 16.1% over the past month to close yesterday’s trading session at $47.25. The stock has seen a decline of 8.7% and 13.6% respectively over the past three-months, however. Brodmin estimates that global gig economies will exceed $455 billion by 2023, according to the report. UBER is under increasing pressure from regulators to make its contractors employees. So, the stock’s near-term prospects look uncertain.

Here are the factors that could shape UBER’s performance in the upcoming months:

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]