UBER - Embedded Expectations Analysis - 2020 04 30
Uber Technologies, Inc. (UBER:USA) currently trades at a premium relative to UAFRS-based (Uniform) assets, with a 3.9x Uniform P/B. At these levels, the market is pricing in expectations for a profitability inflection, and management is confident about take rates, Uber Eats, and curtailing lossesSpecifically, management is confident their U.S. Eats take rate grew despite a competitive environment and that take rates for both Uber Rides and Uber Eats will improve in 2020. In addition, they are confident the Eats business has plenty of room to run and that they will significantly curtail losses throughout the year with Q4 2019 and Q1 2020 reflecting peak investment
Uber Technologies provides ride hailing services. The company develops application for road transportation, navigation, ride sharing, and payment processing solutions. The company serves customers in the United States and Canada, Latin America, Europe, Middle East, and Asia Pacific markets, excluding its discontinued China operations.
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