Truist Securities analysts increased their price target for Uber Technologies (NYSE:UBER) to $94 from $90 and continued with a Buy rating. The analysts’ evaluation, based on Truist Card Data which acts as an indicator for growth in both Uber’s Mobility (Rides) and Delivery (Eats) Gross Bookings, suggests that Uber is surpassing consensus expectations in these segments.

Consequently, the analysts revised the forecasts for the first quarter of 2024, now expecting Total Gross Bookings, Revenue, and Adjusted EBITDA to be $38.4 billion, $10.2 billion, and $1,333 million, respectively. These figures are a slight increase from previous predictions and are above consensus estimates of $38.0 billion in Total Gross Bookings, $10.1 billion in Revenue, and $1,311 million in Adjusted EBITDA. They also align with the upper range of Uber’s own guidance.

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