Tesla Threat Reduced For Uber And Lyft , Stocks Also Benefit From Higher Prices and Shorter Wait Times: Analyst
Tesla Threat Reduced For Uber And Lyft , Stocks Also Benefit From Higher Prices and Shorter Wait Times: Analyst
Needham analyst Bernie McTernan reiterated Uber Technologies Inc (NYSE:UBER) with a Buy and a $90 price target.
Needham的分析師Bernie McTernan將Uber Technologies Inc (NYSE:UBER)評級爲買入，目標價爲90美元。
McTernan observed strong second-quarter pricing trends, pushing the analyst to increase his bookings estimates for Uber and Lyft towards the high end of guidance. Wait times were mixed, with Uber's rising and Lyft's falling, narrowing Uber's advantage, McTernan noted.
McTernan觀察到二季度定價趨勢強勁，推動分析師將Uber和Lyft預定額的估計提高到指導值的最高端。等待時間有所不同，Uber上升，Lyft下降，McTernan指出縮小了Uber的優勢。
From an investment perspective, McTernan preferred Uber as he noted it as a stronger, profitable growth story. However, Lyft's value proposition to consumers is improving, with lower pricing and wait times and a valuation that has drifted back towards trough levels, the analyst said. For both, competition fears from Tesla Inc (NASDAQ:TSLA) are slightly lowered, given the robotaxi event's pushout, McTernan noted.
從投資角度來看，McTernan更喜歡Uber，因爲他認爲它是一個更強勁，有利可圖的成長故事。然而，分析師表示，Lyft消費者的價值主張正在改善，降低了定價和等待時間，估值也已回落到峯值水平。對於這兩者來說，由於機器人出租車活動的推遲，來自特斯拉公司(NASDAQ:TSLA)的競爭擔憂略有降低，McTernan指出。
For Uber, pricing in the second quarter was the highest McTernan observed in his sample. Additionally, on a quarter-on-quarter basis, average pricing was up +400bps compared to +60bps in the second quarter of 2023. As a result of this supportive environment, the analyst moved his quarter-on-quarter mobility bookings growth estimate to +10.5% from +7.5% and relative to +11.7% in the second quarter of 2023, which puts his estimates towards the high end of consolidated bookings guidance.
對於Uber來說，第二季度的定價是McTernan樣本中最高的。此外，季度環比，平均定價上漲了+400個點子，而2013年第二季度則上漲了+60個點子。分析師在這個支持性環境的作用下，將季環比流動性預訂增長估計從+7.5%上調至+10.5%，相對於2013年第二季度的+11.7%，這將把他的估計推向了綜合預訂指導的高端。
McTernan projects second-quarter revenue of $10.75 billion (prior $10.58 billion).
McTernan預計第二季度營業收入爲107.5億美元(之前爲105.8億美元)。
McTernan reiterated Lyft Inc (NASDAQ:LYFT) with a Hold. Pricing in the second quarter for Lyft was the highest McTernan observed since the price cuts last year.
McTernan重申對Lyft Inc (NASDAQ:LYFT)的持有。Lyft在第二季度的定價是McTernan自去年降價以來觀察到的最高點。
Also, average pricing in the second quarter was up +235bps versus -750bps in the year-ago quarter, with the year prior year's decline reflecting the price cuts. As a result of this supportive pricing environment, the analyst increased his bookings estimate by ~1%, which puts him towards the high end of company guidance. McTernan's estimates assume +10.3% quarter-on-quarter bookings growth, relative to his prior estimate of +9.7% and +12.9% last year.
此外，第二季度的平均定價上漲了+235個點子，而去年同期則下降了-750個點子，去年的下降反映了價格下降。由於這種支持性的價格環境，分析師將他的預定額估計提高了約1%，這將把他推向公司指導的高端。McTernan的估計假設季環比的預訂增長爲+10.3%，相對於他之前的估計+9.7%和去年的+12.9%。
McTernan projects second-quarter revenue of $1.41 billion (prior $1.40 billion).
McTernan預計第二季度營業收入爲14.1億美元(之前爲14億美元)。
Despite the pricing strength in the second quarter, it ended on the lows, but there tends to be seasonality throughout the quarter, with pricing picking up, especially after Labor Day, McTernan said. As a result, he left his third-quarter bookings estimates unchanged for Uber and Lyft, although it does not assume less quarter-on-quarter growth.
儘管第二季度的定價強勁，但是定價結束時處於低位，而整個季度往往存在季節性，尤其是在勞動節後，定價會回升，McTernan表示。因此，他未對Uber和Lyft的第三季度預訂額估計進行修改，但並不意味着環比增長會更少。
Price Actions: UBER shares traded lower by 0.40% at $72.14 at last check Monday. LYFT is down 1.72% at $12.89.
股價表現：UBER股價週一最後交易下跌0.40%，爲72.14美元。LYFT下跌1.72%，報12.89美元。
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圖片來自shutterstock。
譯文內容由第三人軟體翻譯。