Uber Technologies Inc. Reports Stock Price Decline Amidst Growth Concerns

Uber Technologies Inc., a leading technology company, has experienced a decline in its stock price. The decline is more pronounced than the overall market, with concerns over the company’s growth prospects.

Market Reaction and Analysts’ Views

Piper Sandler has lifted its price target for Uber and maintained an overweight rating. Analysts remain optimistic about the company’s growth prospects.

Earnings and Investment Opportunities

Uber’s earnings are expected to grow, making it an attractive investment opportunity. The company has been expanding its services, including a deal with Mastercard, which is expected to strengthen its growth story.

Key Developments

• Uber’s robotaxi service has been launched in Abu Dhabi, covering half of the city’s core areas.
• The company has faced a setback in the UK, where the Supreme Court has denied its appeal over VAT. As a result, Uber will be required to pay a 20% VAT on fares outside London.

Key Details

• Date of Supreme Court’s decision: Not specified
• Impact of VAT on Uber’s fares: 20% VAT on fares outside London
• Location of Uber’s robotaxi service launch: Abu Dhabi