Uber Stock Dip Seen as Buying Opportunity After Strong Q3 Performance
Uber Technologies Inc. shares fell more than 5% on Tuesday despite reporting third-quarter results that exceeded analyst expectations. Revenue reached $13.47 billion, beating estimates of $13.26 billion, while earnings per share came in at $1.20, significantly higher than the forecasted $0.69.
Jim Cramer, host of CNBC's Mad Money, characterized the decline as a buying opportunity, labeling Uber a 'buy on weakness.' The company's mobility segment grew 19% year-over-year, with trips increasing 22%. Bank of America Securities raised its price target to $119, implying a 26% upside from current levels.
Uber's EBITDA of $2.26 billion narrowly missed Street expectations of $2.27 billion. The stock remains up 57% year-to-date in 2025, reflecting strong execution and profitability in its Core business operations.
