Uber Technologies (UBER) is one of the safest bets amongst the COVID-19 outbreak
Uber Technologies (UBER) currently trades at $27.75 and has grown by 2% in the past 24 hours. In an update last week, the company reassured investors that its financial position was strong enough to endure an 80% decline in Rides bookings for the rest of the year and still finish with $4 billion in unrestricted cash. Uber didn’t expect such a sharp plunge for the rest of 2020, but that was the worst-case scenario that the company had modeled.
Based on this information, investorsQ rates this stock 6 out of 10. We give it this rating because the Uber Eats business was growing as more restaurants and consumers look to delivery, and since the update, Uber’s stock has nearly doubled, showing that management successfully restored investors’ confidence. The high forecast for Uber Technologies is $60.00 and the low is $23.50. Notably, the company’s market cap is $47.82 billion with a 52 week high of $47.08 and a 52 week low of $13.71.