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Uber (NYSE:UBER) appeared set to end its six-day rally on Friday, marking its first decline since January 31st.
The ride-hailing behemoth took a hit of 2.23%, dropping to $70.02 by 1214 ET. Over the course of the six-day surge, it had ascended by approximately 9%. On a 12-month timeline, UBER had skyrocketed about 90.12%. Its 200-day moving average stood at 44.19%.
The company recently reported that gross bookings had surged 22% in Q4 to $37.6B compared to a consensus of $37.2B. Furthermore, delivery bookings were up 19% during the quarter, although freight bookings experienced a 17% decline. The total number of trips made via the company’s platform recorded a 24% increase.
According to Seeking Alpha’s Quant ratings, UBER had received a Hold rating with a score of 3.47 out of 5. The company was awarded an A for its profitability and growth prospects. However, the stock was handed a D- for valuation, down from a D three months prior.
Looking at the Wall Street community, approximately 45 sell-side analysts surveyed in the last 90 days had rated UBER as a Buy or higher, whereas another five analysts had deemed the company a Hold.
Seeking Alpha analysts generally viewed the company as a Buy. SA Analyst Sandeep G. Rao endorsed the company as a Hold, stating, “While Uber Technologies’ net income seems to be a massive improvement, it isn’t quite as pronounced when accounting for the company’s equity investments.”
“Massive levels of free cash flow and net cash in the face of relatively diminished income indicate that Uber is still pursuing growth in new directions at all possible costs,” Rao added.
