Uber Technologies (NASDAQ: UBER) has a bold new advocate in CNBC’s Jim Cramer, who believes the ridesharing giant could more than double in value.
“I think Uber’s going to $200,” Cramer said during his “Mad Money” lightning round on July 23, calling the company a “cash flow juggernaut.” He urged investors to “go buy more here,” emphasizing that Uber’s business model makes it worth holding, even buying at current levels.
The timing of his call is notable. When Cramer made those remarks, Uber was trading at $89.94. Since then, the stock has slipped to $87.70, a decline of about 2.5%, making his price target look even more contrarian.
Cramer doubled down later in the segment, telling another caller:
“Now, Peter asked, should he stay or should he sell? But you know what he should be doing? [buy, buy, buy]. That’s the kind of skepticism I like, healthy skepticism, but the stock is worth buying right here.”
What Wall Street analysts say about Uber
If Cramer’s $200 target were reached, it would more than double Uber’s current valuation and far exceed Wall Street’s most bullish estimates. By comparison, Wells Fargo analyst Ken Gawrelski raised his price target to $120 from $100 earlier this month, maintaining an Overweight rating, still $80 short of Cramer’s prediction.
Uber, which operates platforms for ridesharing, food and retail delivery, and freight logistics, has gained about 48% over the past year, supported by strong cash flow growth and continued expansion across its business lines. Cramer’s forecast implies that investors may be undervaluing Uber’s ability to translate that operational strength into long-term equity gains.
