From Nasdaq: 2025-02-10 11:14:00

Uber’s stock saw a welcome boost following its Q4 2024 earnings report, surging over 11% for the week. Billionaire investor Bill Ackman revealed a significant stake in Uber, sparking renewed investor interest. Despite recent struggles, Ackman’s endorsement and confidence in Uber’s management have contributed to a positive outlook for the stock.

Ackman disclosed that Pershing Square holds 30.3 million Uber shares, valued at nearly $2.3 billion. He praised Uber’s leadership and transformation into a profitable company. Uber’s recent earnings report showed lower-than-expected operating income, raising concerns about its financial performance. The stock initially dipped after the report, but Ackman’s investment disclosure boosted market sentiment.

Uber’s revenue grew by 20% in the December quarter, with gross bookings increasing by 18%. The company set a gross bookings forecast between $42.0 billion and $43.5 billion for the current quarter, aligning with Wall Street estimates. Despite a mixed earnings report, Uber’s growth trajectory remains intact. Analysts forecast over 20% potential upside for the stock, and technical indicators suggest a positive outlook following Ackman’s investment.

Ackman’s endorsement of Uber has reinforced confidence in its long-term growth potential. Despite concerns around autonomous vehicles impacting Uber’s business model, the stock’s strategic positioning and strong profitability indicate further upside potential. With momentum shifting in Uber’s favor and major investor backing, the stock may have more room to run in the future.



Read more at Nasdaq:: Ackman Announces Major Stake in Uber: Should You Follow His Lead?