Citi Upholds Buy on Uber Technologies, Inc. (UBER) Amid Exec Move

The analysts at Citi stuck to their Buy rating on Uber Technologies, Inc. (NYSE:UBER), with an unchanged price target of $102. This move came after the company announced a leadership change, promoting the Senior Vice President of Mobility and Business Operations, Andrew Macdonald, to President and Chief Operating Officer, succeeding Pierre-Dimitri Gore-Coty following his retirement.

This repositioning implies a much bigger strategic initiative, integrating leadership for both the Mobility and Delivery divisions. As long as the company continues to expand its Uber One and GoGet services, there’s good reason to believe that this transition would enhance the operational efficiency of Uber Technologies, Inc. (NYSE:UBER).

Jim Cramer Thinks "Uber (UBER) Is At The Right Level"

A close up view of a hand holding a smartphone, using a ride sharing app.

Uber Technologies, Inc. (NYSE:UBER) has continued to exhibit growth over the years, with an impressive gross profit margin of 33.6%. The company isn’t planning to stop there as it always tries to stay ahead in this dynamic mobility and delivery market through new offerings. Given its recent acquisition of Denmark’s largest taxi company, Dantaxi, and advancements in autonomous vehicle technology, we can safely say that the confidence surrounding the transport and delivery giant’s prospects is reasonable.

Uber Technologies, Inc. (NYSE:UBER) is a multinational delivery and transportation company operating through three main segments: Mobility, Delivery, and Freight. With over 15 years of experience in the industry, this California-based giant connects millions of people internationally.

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