Uber Technologies (UBER) is one of the most popular choices of stocks to invest in on the market before the end of 2024. The company has a solid Q3 earnings report that propelled it to gains in the days following the announcement. Despite a slight cold spell at the hands of Tesla (TSLA)’s boom, there is still optimism around the rideshare and delivery company.

On October 31, Uber announced financial results for the third quarter, which ended on September 30. The company’s revenue increased 20% year-over-year to $11.2 billion. Gross Bookings increased 16% year-over-year to $41.0 billion, with trips during the quarter growing 17% year-over-year to 2.9 billion. This equals approximately 31 million trips per day on average. While these numbers are up, UBER suggests that the company will mirror or even eclipse these statistics in Q4 entering the new year.

The company projects Gross Bookings to range between $42.75 billion and $44.25 billion, a year-over-year (YoY) increase of 16% to 20%. Uber also suggests that the use of its rideshare and delivery services will continue to rise in Q4, meaning the next three months should bring great success. Uber stock has been up 14% in the last six months and has rebounded in the past week from a tough November. Upon Tesla CEO Elon Musk’s appointment to President-elect Donald Trump’s cabinet, Tesla stock rocketed in value. Now, the stock is catching up, up 5% in the last five days.

Additionally, Uber has made some key announcements ahead of the holiday season that will likely boost rides and profits. The company introduced UberXXL, a ride option with a larger trunk space, perfect for airport pick-ups and drop-offs with extra baggage. It features comfortable seating and is available now to and from more than 60 airports globally, with more to come.

Experts From Wall Street Give Their Takes on Uber Stock

Furthermore, finance experts at different finance firms still see potential in Uber stock for investors. Goldman Sachs, in particular, is pushing investors to buy in on the stock, considering it a buy now and raising their price predictions for UBER. In addition, experts on Wall Street and from various insight groups are raising their price predictions for UBER, showing continuous faith in the company to rebound. Jefferies analyst John Colantuoni is one of the experts considering UBER as a buy now. The analyst has set a target of $100 for Uber stock.

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While AI stocks are currently the wave to jump on, Uber itself and many experts still see potential in the stock over the next few months. Before investing, make sure you do your own research on UBER to ensure it is a safe stock for your portfolio. Even with the heightened support for the stock by experts on Wall Street, anything can happen to reverse that instantly. However, UBER is classified by many as a buy-now heading into 2025, with gains on the horizon.