Is Uber Stock A Buy Right Now, As It Tests A Key Support Level? Here's What Earnings, Charts Show
Uber Technologies ( UBER ) is a global company that is transforming the ride-sharing and meal delivery markets. After a much-hyped debut on May 10, 2019, Uber stock is one of the most watched IPO stocks today, but is Uber a buy right now in the current coronavirus stock market rally? Uber Stock Fundamental Analysis: Lack Of Profitability Uber is in the midst of a dramatic turnaround, as the company fights to turn a profit. In 2018, Uber had earnings of 59 cents per share, but the profit was temporary. The company lost $5.04 a share in 2019, as the company continues to burn through cash . For 2020, the company is expected to lose $3.86 a share, according to IBD data. On Nov. 5, Uber reported a loss of 62 cents per share, while sales fell 18% year over year to $3.13 billion. According to the IBD Stock Checkup , Uber stock has a modest 73 out of a highest-possible 99 IBD Composite Rating. The Composite...