Stock

Will Uber Stock Reach $75 By 2022?

(Benzinga) – Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We recently surveyed whether shares of Uber Technologies Inc (NYSE: UBER) will reach $75 by 2022.

Uber Stock Forecast

Uber develops and operates proprietary technology applications that connect consumers with independent providers of ride services for ridesharing services, as well as connect consumers with restaurants and food delivery service providers for meal preparation and delivery services.

The Eats segment offering enables consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered.

In recent news, a majority “yes” vote on Prop 22 in the state of California during the November elections allowed Uber and Lyft Inc (NASDAQ: LYFT) to be exempt from classifying their drivers as employees. This is seen as a big win for both companies who, as a result, are not required to offer employee benefits like health care.

Uber trades around $59.79 at the time of publishing, off the 52-week low of $14. About 58% of traders and investors told us Uber will reach $75 per share by the end of 2022.

A number of participants said Uber’s revenues will sharply recover once the pandemic has subsided. As the economy recovers, and if vacation travel were to return by summer 2021, travelers may soon return to utilizing ridesharing services in due time.

See also: How To Buy Uber Stock.

This survey was conducted by Benzinga in January 2021 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 600 adults.

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