Wedbush’s analysis: Uber’s results for September will exceed expectations

Today, on November 1, Uber will release its report for the third quarter of the current financial year. Wedbush’s analysts expect that this report will demonstrate the company’s solid results. 

Wedbush rated Uber's stock as “outperform” and set a target price of $38. It’s expected that the company’s results for September will be a positive move forward. According to the analysts, Uber is already ahead of the market, despite all the constraining factors from regulators, which enhance the market’s uncertainty.

As stated in the forecast, the company’s total revenue might be around $8.12 billion. The analysts consider this result to be quite achievable because at the moment Uber is actively entering international markets, taking close attention to the increase in profitability, and strictly adhering to its plan for the service’s growth and development.