Uber Stock Skyrockets on Earnings Beat – Is the Rideshare Giant Set to Keep Surging?
Uber shares closed at $99.72 on Nov. 3, just below record highs, before falling about 4% in pre-market trading after issuing softer Q4 guidance. Third-quarter revenue rose 20% to $13.5 billion, with adjusted EBITDA up 33% to $2.3 billion and net income boosted by a tax benefit to $6.6 billion. Uber expanded its partnership with Toast and acquired Segments.ai. Wall Street’s average 12-month price target is $110–112.