Bank of America Securities Remains a Buy on Uber Technologies (UBER)

​Uber Technologies, Inc. (NYSE:UBER) is one of the Best Software Stocks to Buy According to Wall Street Analysts. On January 30, Justin Post from Bank of America Securities reiterated a Buy rating on the stock, but lowered the price target from $119 to $110. Earlier, on January 27, Mark Kelley from Stifel Nicolaus also reiterated a Buy rating on Uber Technologies, Inc. (NYSE:UBER) but lowered the price target from $122 to $105.

Justin Post from BofA noted that the rating comes ahead of the company’s Q4 earnings release expected on February 4. The analyst noted that they expect the company to post growth in bookings and also sees significant upside in revenue estimates. However, the firm expects EBITDA estimates for Uber to be around $2.47 billion, which is below Wall Street’s expectations of $2.48 billion. BofA noted that they expect slightly lower EBITDA to account for the company’s investment in growth.

On the other hand, analysts at Stifel highlighted concerns regarding the impact of robotaxis on Uber Technologies, Inc. (NYSE:UBER)’s business. However, the firm also acknowledged that the debate is not expected to be settled anytime soon. Although the firm lowered the price target slightly, they remain optimistic on the company’s near-term outlook.

​Uber Technologies, Inc. (NYSE:UBER) operates as a technology platform that offers ride services and merchant delivery service providers for food, groceries, meal preparation, and other delivery services.

While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.