Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week.
Uber: Strong Bookings Today, Tremendous AV Opportunity Tomorrow
Billionaire Bill Ackman is the CEO of Pershing Square Capital Management, a hedge fund that returned 191% in the last five years. Comparatively, the S&P 500 (SNPINDEX: ^GSPC) returned 102% over the same period.
Bill Ackman is one of the most widely followed investment managers in the world. He's in charge of Pershing Square Capital, a hedge fund focused on investing in just a handful of Ackman's best ideas.
Shares of Uber Technologies (UBER 5.44%) were moving higher for the second day in a row, seemingly in response to billionaire Bill Ackman's announcement that he has invested more than $2 billion into Uber stock. Additionally, investors seemed to shrug off some news about a rival or even saw it as a positive sign.
Joe Terranova, Senior Managing Director for Virtus Investment Partners, joins CNBC's "Halftime Report" to explain why he's buying back into Uber after Bill Ackman announced a position in the ridesharing company.
Recent breaking news gave Uber NYSE: UBER investors a welcome boost as the stock swung into positive territory over the past year. The ride-hailing giant, which had significantly underperformed over the previous year, surged 6.59% on Friday and over 11% for the week following its Q4 2024 earnings report.
Uber (UBER) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Uber, Comcast, Gilead Sciences and Onfolio Holdings are included in this Analyst Blog.
Uber's stock has risen 24.5% since my last analysis, and despite a mixed Q4, it remains undervalued with significant upside potential. Bill Ackman's endorsement of Uber as a top-tier, well-managed company adds credibility and positive sentiment, reinforcing my strong buy rating. Uber's robust business model, scale, and network effects provide a competitive edge, with promising growth in gross bookings, active users, and trip volumes.
Shares of Uber Technologies (UBER 6.59%) were down 7.6% on Feb. 5 after the company reported Q4 results. Though shares quickly recovered later in the week, the stock is still down about 20% from its all-time high as of this writing.
Could Uber (UBER 6.59%) be a $1 trillion company? Management thinks so, and the future will be driven by autonomous vehicles.