Uber Technologies (UBER, Financial) was introduced in Pershing Square's Q4 2024 letter as a new investment, highlighting its position as the world’s leading rideshare and delivery marketplace. Uber's business model has strong network effects that reinforce supply and demand growth, with management targets implying +30% annual EPS growth over the next several years. Despite concerns regarding the potential long-term threat from autonomous vehicles, Pershing Square believes the long-term risk is limited and estimates that Uber’s share price is likely to more than double over the next 3 to 4 years.
"We believe the long-term risk from AVs is limited and estimate that Uber’s share price is likely to more than double over the next 3 to 4 years..." — Pershing Square 2024 Q4 Fund Letter
Read full letter at gurufocus Pershing Square 2024 Q4 page.
