Wall Street analysts come out very bullish on Uber

"We see Uber as the most attractive Internet IPO since Facebook, and believe that concerns related to Uber's profitability prospects are less risk than Facebook's mobile transaction at that time, we see signs of rationalization in competitive dynamics in ridesharing, coupled with Uber and Lyft's brutal IPOs, which can curb irrational private finance activity, will probably result in improving competitive dynamics and contribution margins for Uber. on high margins on selected markets and how quickly Yandex was able to profitably profit from the rider share business after consolidation with Uber in Russia, we trust in the long-term profit potential of Uber, along with a massively addressable market, long-term call options on freight and ATG , the nascent "clabis" rideshare market opportunity We believe that this global leader is well positioned to dominate the story of Taas in the years to come. We start with a BUY rating and a $ 58 price target, reflecting a sum-of-the-party valuation that incorporates small premium multiples on Ridesharing and Eats due to their leadership position across multiple markets and business fronts. "

" Introduction to UBER (OW) and LIFT (EW) coverage: Ride-hailing its future promise is almost as impressive as the capital's ruin since the onset of "Scorched Earth" strategies. Having experienced two of the worst received IPOs in technology history, the background to a contravention like us being constructive in space is actually quite interesting right now. We believe consensus is too bearish on the rides unit economy, which is close to breakeven today for Uber and slowly approaching that level of lift. At 4x earnings, with higher growth than most other large caps we cover, we will dip a toe in the water and take a position, but expect the names to continue to chop (and if S + P was to continue shopping, these two has little election support given high cash burn). We prefer UBER shares to LYFT based on better unit efficiency, but imagine both are good at the audience longing here. This report is a 100-page deep dive from a bottom-up perspective on UBER and LYFT, and we publish a companion-top-down tag along with our Global Autos team: See "Cutting the Car's Ownership Management" by Brian Johnson and Kristina Kirke, 6/4/19).

"We start a coverage of Uber with a Buy Class and NPT of $ 50. Uber has a leading position in rideshare, which accounts for nearly 70% of the total TAM of nearly $ 6tn. The current strong competition is likely to rationalize over the next few years due to continued consolidation and listing of private peers, and as a result, we believe that Uber has ample room to gain operational leverage from economies of scale, and we expect Uber to be EBITDA positive in 2022 and achieve a 10.4% margin in 2023. Our PT is based on a SOTP method and 22x our 2023 EBITDA forecast (against an estimated CAGR of 35%). "

" Uber became Founded 10 years ago, we think it's style of early innings in the core (ridesharing / Eats) and new (Freight, Autonomous, New Mobility) opportunities. Uber's rideshare penetration of what we're looking to be core demographics (18-50 years old, $ 50K + Income consumption) is still only ~ 20% in its oldest market (US) and only 6% of the US population overall. International ridesharing total population penetration (estimated 2%) is even lower and Uber Eats (<1% global penetration) is even earlier. The growth path is long for Uber's platform to grow users and usage frequency across products … and with scale, a path towards profitability. "

" Uber is a transformation firm that will benefit from worldly shifts to the sharing economy (Rides), time-saving services (Eat) and more efficient marketplace development (shipping). Our task is based on: 1) Sector attractive with only 1% penetration of TAM, 2) With Uber & Lyft a more rational environment, adj. Net sales ("ANR") should react. 3) Leadership and network effects are long-term benefits, and profitability in less competitive markets suggests that the business model may be attractive. 4) Autonomous vehicles will reduce driver dependencies and increase long-term margins, and 5) Consolidation in the food delivery sector will be positive for Eats. "

" Uber is the category leader who created what has become a disturbing and challenging market over the past eight years. While we see mobility as a great opportunity, the way to reach it is far from a straight line. Although there are already very large companies across the various markets and services, we see long-term leadership in space so far from deciding and believing in the risk of ownership across the room, as both the services and competitors with them are mature, are significant. That said, we believe the risk / reward of owning the leader in this room is favorable, and initiates coverage of Uber with a Buy Class and a $ 56 price. "

" We start on coverage at Uber Technologies, Inc. with an Outperform rating and a 12-18 month price target of $ 55. Uber has cut a categorical market leader position in ridesharing (65% in most regions and 69% in the US) and online food delivery. Apart from the company's leading technology, Uber has superior network liquidity compared to peers, with over 93 million global monthly active platform customers. In our opinion, ridesharing (currently ~ 1% of TAM) and online food delivery (~ 15% of TAM) adoption are still under-penetrated globally, and we believe Uber's technology and network liquidity are better positioned than owners who will take up further market share. Our $ 55 price level involves 4.1x 2020E sales vs. ridesharing / food supplier customers who trade at 3.9x and Marketplace colleagues at 4.9x. "

" Initiates with Outperform & $ 62 PT. Uber is the leading global player in massive ridesharing & meal delivery TAMs, and generates robust growth, with leading technologies, products and ops. We also see significant option value in new business units (eg freight). We believe that the market underestimates UBER's profit potential. "

" Uber is capitalizing on powerful worldly trends in technology / ubiquity improvement of personal mobile devices and ever-expanding consumer preferences, to transform a very large but highly inefficient transport market. Uber dominates Ridesharing (ex. China) with reinforcing network effects in "win markets".

"We start our research coverage in autonomy with Uber and Lift and start coverage with purchase rankings on both. Our price target is $ 80 for Uber and $ 77 for Lift as described below. We believe both The companies can deliver profitability on what is actually a taxi / driver replacement service, which is likely to justify these companies' current valuations, but we believe the investors will own these stocks over the long term. in an autonomous future. "

" Uber is well positioned to increase its ridesharing & Eating units as positive worldly trends drive more users and frequency, giving 20% ​​+ annual order growth & # 39; 19E – 24E Our unit contribution results analysis suggests that Ridesharing biz is profitable per turn, while Eats per turn will shrink as the biz scales; we est Uber's EBITDA positive with & # 39; 22. Start coverage with an Outperform and $ 58 PT. "