Uber: Increasing Uber One Members Boost Booking Growth

Klaus Vedfelt/DigitalVision via Getty ImagesI published my ‘Strong Buy’ thesis for Uber (NYSE:UBER) in January 2024, highlighting their improvement in the take rate and operating margin. I continue to view Uber’s stock price as undervalued, and the market has not fully appreciated Uber One membership growth and their potential for margin and FCF growth. Therefore, I assign a ‘Strong Buy' rating with a fair value of $103 per share. Uber One Membership Growth Uber offers Uber One subscription services, pr ...