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Uber's IPO on May 10, 2019 was one of the most anticipated IPOs of the year. The company priced its IPO at $45 per share, valuing the company at over $80 billion. However, Uber stock closed its first day of trading at $41.57 per share below its IPO price, marking the largest first-day dollar loss in U.S. history.
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Since the quarterly earnings reports were released in February, we have seen Uber's stock price increase to $78 per share since March 2024. If you invested $1,000 in Uber's IPO in 2019, your investment would have grown to $1,000 $2,105.39 with a total return of 110.54%.
The Motley Fool stock analyst team did not include Uber in its list of “10 Best Stocks Investors Should Buy Now.” However, The Motley Fool recommends and has positions in Uber Technologies.
As Uber's May second quarter earnings report approaches, Motley Fool financial analyst and contributor Parkev Tatevosian stated, “I'm keeping Uber stock on my list as one of my top stocks to buy in 2024.”
Tatevosian noted: “A few years ago I thought Uber, Lyft and the entire industry were doomed. But luckily they turned things around. They’ve reduced promotional activity, reduced competitive anxiety and look where it’s taken them.”
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According to Tatevosian, we can expect “three more years of likely double-digit revenue growth and at least three more years of 35%-plus earnings per share growth for Uber” by December 2026. Considering recent earnings reports and growth forecasts, Uber presents itself as a promising business for investors in the coming years.
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This article originally appeared on GOBankingRates.com: Here's what you would have today if you invested $1,000 in Uber's IPO
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