Key Stats for Uber Stock
- Price change for Uber stock in last 6 months: -9%
- $UBER Stock Price as of Oct. 16: $70
- 52-Week High: $100
- $UBER Stock Price Target: $101
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What Happened?
Uber (UBER) said on Monday that it won its bid to throw out two linked lawsuits, Reuters reports.
The cases were valued at around £340 million ($453 million) and were brought by thousands of London black cab drivers and two former private hire companies.
The lawsuits were filed in 2024 and claimed Uber gave “misleading and inaccurate information” to Transport for London when it got its private hire license in the capital.
Uber denied the claims and also argued the cases came after the six-year limit for this type of claim.
A copy of the High Court’s ruling was not immediately available.
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What the Market Is Telling Us About Uber Stock
For Uber stock, this removes a legal overhang. A claim worth about £340 million is tiny next to the size of the business. Still, it is one less risk to track in a major market.
The ruling has not been published, so it is unclear if the claimants can appeal and Uber stock may not move much on this news alone.
The latest earnings show a company that is growing at a steady pace.
Gross bookings grew 22% to more than $58 billion, the fourth quarter in a row above 20% growth, and non-GAAP EPS rose 35%.
Free cash flow over the past 12 months topped $10 billion for the first time, and CFO Balaji Krishnamurthy said Uber plans to use about half of its free cash flow on buybacks.
He said buybacks should rebuild in months.
Uber agreed to buy Delivery Hero, which would extend its reach to nearly 100 markets.
It is also spending on self-driving cars, and management said it is on track to be live in 15 cities by year-end. Competition is a risk too; in Brazil, rivals are spending heavily, and that has hurt trip volumes.
For Uber stock, growth and cash flow matter far more than this lawsuit.
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So what is Uber stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
