Uber’s First Investor Day Hinted Impressive Growth on All Fronts and Profitability; Stock Attractive

One day after posting strong fourth-quarter results, Uber held its first investor day conference on Feb. 10, during which the firm focused on growth opportunities within each of its segments and its continuing progress toward margin expansion and GAAP profitability. The firm also provided a long-term outlook, most of which was comparable with our projections. We did not make significant changes to our model and maintained Uber’s $73 fair value estimate. We view this narrow-moat and 4-star-rated name as attractive for new investors.