uber
Since going public in May 2019, Uber Technologies NYSE: UBER it has seen its fair share of ups and downs. But since its five-year low in June 2022, the stock has given shareholders a return of nearly 242%.
Now, the company—which operates a leading global rideshare duopoly and integrated food delivery platform—aims to deliver more of the opposite through a series of improved in-app features and strategic partnerships.
On April 29 at its annual GO-GET event, Uber announced that despite its roots in the tech industry, the company is now setting its sights on the lodging industry.
Uber Pushes Further into Travel with Hotel Reservations and Vacation Rental Programs
Joby Aviation Today
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- $6.42
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$20.95
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In March, Uber announced a partnership with Joby Aviation NYSE: JOB to facilitate Uber Air—a feature that will give EVTOL passengers the ability to book all-electric air taxis on its app.
This move showed that the rideshare company is actively and strategically expanding into new segments.
Now, Uber is aiming to visit hotels and short-term rentals, including Airbnb’s industry foundations NASDAQ: ABNB and Booking Holdings NASDAQ: BKNG. Expedia Group’s top rated vacation rentals NASDAQ: EXPE The Vrbo brand will be added later this year, and following the first pilot, Uber rides will be integrated directly into the Expedia app starting in June. Expedia CEO Ariane Gorin noted that the partnership’s goal is to make travel feel effortless by providing users with a seamless experience.
According to its press release, the company will provide access to more than 700,000 hotels worldwide through the Uber app. Those bookings reward users with a 10% discount, Uber One members get an additional 10% in Uber One credits.
“By connecting our two-way marketplace with Uber, we’re bringing Uber rides directly to the Expedia app and Expedia Group lodging properties to the Uber app,” said Gorin. “Together, we’re helping travelers spend less time planning and more time enjoying the trip.”
Besides customer convenience, the move gives Uber a foothold in the online travel booking service market, which is expected to grow to $1.13 trillion by 2030. According to a report by the industry consulting company Grand View Research, the increase in the cost of travel, coupled with the increase in income and the growing range of tourism activities available around the world is accelerating the growth of the market, which the company says should contribute 20% in 20 years. 2030.
Uber’s GO-GET Event Showcased New In-App Development
The expansion into hotel bookings and short-term vacation rentals is a big one, but Uber has revealed a handful of other app features it’s rolling out.
At the GO-GET event, the company also introduced Travel Mode, a new feature available on the Uber and Uber Eats apps, which offers “curated recommendations for local favorites, popular travel destinations, [and] OpenTable reservations.” Uber has positioned Travel Mode as its own version of “room service,” but it’s delivered directly to users’ hotel doors. The idea is to allow users to think of the Uber app as a personal travel destination.
Other features include:
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Buy it for me: Users can request items from any store, even if it’s not in the app list.
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Eat the Way: Riders in certain cities can book an Uber Black or Uber Black SUV and have their drivers bring drinks or snacks before the ride.
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Voice booking: An AI-powered feature that uses a conversational assistant that understands users’ destinations and preferences.
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One Search: Redesigned “Where is it going?” the search bar now populates results for places, meals, and things across the Uber site.
Uber’s Q1 Earnings Hint at Rapid Growth Ahead
Uber Technologies Stock Forecast Today
$105.14
Best exchange rate of 37.10%.Buy Medium
Based on 39 Analyst Ratings
| Current Price | $76.69 |
|---|---|
| High Forecast | $125.00 |
| Average prediction | $105.14 |
| Low Prognosis | $72.00 |
Uber Technologies Stock Forecast Details
Uber will look to those factors and relationships to build on momentum from Q1 FY2026 earnings.
When the company reported on May 6, it posted earnings per share (EPS) of 72 cents, beating analyst estimates of 69 cents. The earnings beat was Uber’s seventh in the past eight quarters.
Revenue for the quarter came in at $13.20 billion, below consensus expectations of $13.28 billion, but representing a 14.5% year-over-year (YOY) increase. But despite the revenue shortfall, there were some big numbers highlighted on the earnings call, including 21% YOY growth in gross bookings, more than 44% YOY growth in non-GAAP EPS, and a record $3 billion share buyback in Q1.
The company noted that the platform’s engagement and monetization is strong with more than 50 million Uber One members, representing an increase of nearly 50% YOY. Additionally, delivery saw growth of over 23% YOY, led by grocery and retail.
With a forward price-to-earnings ratio of about 23, Uber’s earnings are expected to grow more than 28% next year. Of the 39 analysts currently covering the stock, 33 have given it a buy rating.
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