Ahead Of Uber Earnings, Analyst Raises Forecast

Core Viewpoint - BofA Securities analyst Justin Post maintains a Buy rating on Uber Technologies, Inc with a price target increase to $96 from$95, ahead of the quarterly earnings report on May 7 [1] Financial Estimates - For Q1, Post estimates Uber's bookings at $43.5 billion and revenue at$11.73 billion, exceeding Street estimates of $42.9 billion and$11.62 billion respectively [1] - The EBITDA estimate of $1.89 billion is also higher than the Street's estimate of$1.84 billion [2] - Projected Q2 bookings are $47.65 billion compared to the Street estimate of$45.79 billion, with revenue expected at $12.94 billion versus the Street estimate of$12.34 billion [7] Growth Projections - Mobility bookings growth is projected at 21% excluding foreign exchange, indicating a deceleration compared to BAC card data showing stable Online Transit spending [2] - Stable 18% growth is expected for Delivery, although Online Delivery growth has decelerated by 1 point compared to Q4 [4] - The Grocery & Retail segment is anticipated to contribute an additional 2 points to growth in Q1 due to new partnerships [4] New Verticals and Innovations - The contribution from New Verticals is viewed positively as Uber invests in new products like Uber Teen and autonomous vehicles [3] - The partnership with Volkswagen to deploy autonomous vehicles in multiple cities, starting in Los Angeles, is significant, with testing of the "ID. Buzz" planned for late 2025 [6] Autonomous Vehicle Developments - Early data from the Waymo launch on the Uber app in Austin suggests a successful ramp-up, with Uber focusing on tools to enhance autonomous vehicle adoption [5] - CEO Elon Musk's comments on Tesla's plans for fully autonomous paid rides in June may drive further Auto OEM AV development and partnerships with Uber [7] Market Performance - Uber's stock closed higher by 1.36% at $85.43 [8]