How to Buy Uber Stock
Uber Technologies Inc
Uber Technologies, Inc. develops and operates proprietary technology applications primarily in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.
Uber stock last closed at $66.62, up 1.99% from the previous day, and has increased 74.67% in one year. It has overperformed other stocks in the Software - Application industry by 0.42 percentage points. Uber stock is currently +79.71% from its 52-week low of $37.07, and -18.89% from its 52-week high of $82.14.
At the moment, there are 2.09B shares of UBER outstanding. The market value of UBER is $139.20B. In the past 24 hours, 16.27M UBER shares were traded.
How to Buy Uber Stock
Wondering how to invest in Uber stock? Here's how.
- Choose where to buy Uber stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online brokerages and apps to help you decide where to buy Uber stock.
- Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Deposit money your brokerage account: Choose your method of payment and add your info.
- Evaluate Uber stock: The Uber ticker symbol is UBER. Is Uber stock a good investment? Should you buy shares of UBER? How do UBER's underlying business fundamentals look? Do top analysts think Uber is a good buy? Why has UBER's stock price moved recently? (Hint: Our stock market analysis tools can help you evaluate if UBER is a good stock to buy).
- Make your UBER purchase: Decide if you will purchase UBER shares at the current market price or use a limit order to purchase UBER stock at a specific price.
- Track your UBER position: Create a watchlist to keep track of your position in Uber stock.
Step 1: Choose where to buy Uber stock
You need an online brokerage account to access the NYSE market and buy UBER shares.
Our favorite brokerage: eToro
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Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've chosen the best brokerage, it's time to fill out some personal info so you can invest in UBER today.
How to Set Up a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal data to create your new brokerage account.
- Submit your application by clicking the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you have created your account on stock market app, you need to deposit funds:
Watch this video walkthrough for more details depositing money into your new investment account.
Step 4: Evaluate Uber stock
After you have figured out the best place to buy Uber stock, it's crucial to evaluate their stock before you buy, so you actually wrap your head around the risk as well as the opportunity.
Uber stock quick numbers
UBER Overview
WallStreetZen was created to help part-time investors perform more accurate fundamental analysis.
You can view all of the due diligence checks on UBER's stock page.
Is UBER stock overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge UBER's true value.
Using relative valuations metrics:
- UBER could be overvalued based on its P/E ratio of 96.55x, relative to Software - Application industry P/E ratio of 31.02x
- UBER may be overvalued based on its P/B ratio of 12.59x, relative to Software - Application industry P/B ratio of 6.58x
- UBER could be overvalued based on its PEG ratio of 1.69x
You can access more valuation research on UBER's stock here.
A quick look at UBER Financials
Signs that UBER is financially healthy:
- There are more short-term assets than short-term liabilities on the UBER balance sheet.
- UBER's operating cash flow of $4.40B allows it to safely service it's debt of $11.16B.
- Total UBER debt is lower than 5 years ago, relative to shareholder equity.
- UBER profit margin has gone up from -10% to 3.6% in the past year.
Signs that UBER is not financially healthy:
- There are more long-term liabilities than short-term assets on the UBER balance sheet.
- UBER earnings of $2.17B is not sufficient to cover its interest payments.
- UBER has a relatively high debt to equity ratio of 2.45.
Do analysts think it's a good time to buy Uber stock
Out of 27 Wall Street analysts who track UBER, the consensus analyst rating on Uber is a Strong Buy
Please note that analyst ratings are not stock recommendations, nor are they investment advice.
Latest UBER Analyst Forecasts
Brad Erickson, a top 5% analyst from RBC Capital maintains UBER with a buy rating and lowers their UBER price target from $85.00 to $80.00, on May 9, 2024.
Ken Gawrelski, a top 12% analyst from Wells Fargo maintains UBER with a strong buy rating and lowers their UBER price target from $95.00 to $89.00, on May 9, 2024.
John Blackledge, a bottom 5% analyst from TD Cowen maintains UBER with a strong buy rating and lowers their UBER price target from $90.00 to $88.00, on May 9, 2024.
Scott Devitt, a top 3% analyst from Wedbush maintains UBER with a buy rating and lowers their UBER price target from $85.00 to $80.00, on May 9, 2024.
Wedbush's Scott Devitt lowered their price target on Uber (NYSE: UBER) by 5.9% from $85 to $80 on 2024/05/09. The analyst maintained their Buy rating on the stock.
Uber reported its Q1 2024 earnings on 2024/05/08.
Devitt highlighted that the quarter's gross bookings of $37.7B were 1% below the Street consensus, and the $1.4B in adjusted EBITDA beat estimates by $69M.
Management's gross bookings guidance was "relatively in line with Wedbush's estimate, although slightly below consensus," the analyst continued.
Devitt added that their firm now expects Q2 adjusted EBITDA of $1.5B, up 3% from its previous estimate.
Earnings Report
For Q1 2024, Uber reported:
- Loss per share of $0.32, which missed the Zacks Consensus Estimate of $0.21 and, by 300%, Q1 2023's $0.08.
- Revenue of $10.13B, which beat the Zacks Consensus Estimate of $10.08B and, by 14.9%, Q1 2023's $8.82B.
- Gross bookings of $37.65B, up 20% Y/Y.
- Adjusted EBITDA of $1.38B, up 82% Y/Y.
For Q2 2024, management guided:
- Gross bookings of $38.75B to $40.25B, representing 18% to 23% Y/Y growth.
- Adjusted EBITDA of $1.45 B to $1.53B, representing 58% to 67% Y/Y growth.
CEO Dara Khosrowshahi commented: "Our results this quarter once again demonstrate our ability to deliver consistent, profitable growth at scale.
“More than 7M people now choose to earn flexibly on Uber every month, with driver earnings of $16.6B continuing to grow faster than our topline.”
CFO Prashanth Mahendra-Rajah added: “Our multi-year growth framework is on track, with audience up 15% and frequency up 6% in Q1.
“We reached a new quarterly record for Adjusted EBITDA, which grew 82% YoY, and we generated free cash flow of $4.2B over the trailing twelve months.”
Justin Post, a top 1% analyst from Bank of America maintains UBER with a strong buy rating and lowers their UBER price target from $91.00 to $87.00, on May 9, 2024.
You can dig deeper into what analysts are forecasting on the Uber stock forecast page.
UBER Technicals
Is UBER Growing Revenue?
Last year, UBER revenue was $38.59B. During the past 5 year, UBER's revenue has grown by 28.65% per year. This was slower than the Software - Application industry average of 29.84%.
Dive into UBER's earnings and revenue performance here.
Are UBER insiders buying or selling the stock?
In the past 12 months, executives and large shareholders at UBER have sold more shares than they have bought.
Tony West, Chief Legal Officer and Corporate Secretary of UBER, was the latest UBER insider to sell. They sold $26,796.00 worth of UBER shares on May 13, 2024.
Research more about who owns UBER stock here.
Does UBER provide a stable income stream?
No, Uber doesn't provide an income stream by paying out dividends.
Get opinions from other investors
One of the major reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to see what other investors have to say.
Step 5: Make your UBER purchase
There are two primary types of orders:
- Market order: A market order is an order to buy or sell a stock at the best possible price.
Market orders are generally the easiest way to buy. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a specific price, use a limit order.
Hit the Open Trade button and eToro will execute the order.
If you need more help with buying stocks on eToro, click the how to video below:
Step 6: Track your UBER position
Now that you own some UBER shares, you'll want to keep up with your new shares.
Create a watchlist to track the latest developments regarding your UBER stock.
UBER Feed
How to Buy Stock in Uber
To summarize, here are the 6 steps for buying Uber stock:
- Choose where to buy Uber stock
- Sign up for a brokerage account
- Deposit money your brokerage account
- Evaluate Uber stock
- Make your UBER purchase
- Track your UBER position
If you need a online brokerage, eToro is our recommended option.
Get Started with eToro TodayIf you would like to track your investment in Uber, create a watchlist on WallStreetZen today.
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