Uber | What we got wrong...

Key Points

What we got wrong and why we still like the stock…

Back on March 24th we put pen to paper and explained why we liked Uber. Since then, the stock is down c10% and has underperformed the S&P by 22%. 

This is clearly not what we expected but in this note we explain why the stock has underperformed the wider market and why we still like the name. Finally, we will touch on what our model expects for the stock but will save the full model detail for our update post Q2 and once we have more details on the Transplace freight acquisition. 

What is in the full note:

• Analysis looking at the 5 reasons where we got it wrong

• Analysis looking at the 6 reasons we still have high conviction in Uber and why we keep it in our portfolio

• Valuation Analysis - Target Price and how we value each business within Uber

Read the full note below:

As always, any questions please do reach out to us