Uber Technologies is not exactly Lyft, but Aswath Damodaran, finance professor at New York University Stern School of Business, said. However, the markets will be priced relative to each other.
The two passenger sharing companies were the first in the equity market with Lyft open at the end of last month and Uber filing a real estate investment statement last week. However, because Uber is more complex than its competitors, it is more difficult and difficult to interpret the company before IPO.
Damodaran said it was not a pure riding-sharing company, but because it got its income from Uber Eats, a food delivery service, as well as smaller bets like Uber Freight. Uber 's ambitions were also more global than Lyft' s, which focuses on America and Canada. Uber is also complicated by three years of major restructuring, from stopping cash investments in China, Southeast Asia and Russia to IPOs that have lost billions of dollars.
But the "good news" is that when Damodaran segregated Uber's ongoing local statistics, he found that total claims, net income, riders and rides all "grew" strongly in the last three years.
Damodaran, author of several books on valuation and corporate finance, received $ 54 a share from a $ 61.7 billion stock value analysis of Uber's assets. In another analysis that looked at a rider-based company, he valued $ 58.6 billion or $ 51 per share. However, depending on the metrics used to measure the value of the company, the total value may vary from $ 47 billion to $ 124 billion, or approximately $ 80 billion, depending on the metric.
No matter how investors reach their valuations, the reality is, "Uber will be priced by the market and priced against Lyft," he said.
The fact is that investors have been struggling with Lyft. Lyft, the high end price of the IPO range and 21% growth in its debut, has suffered since then, after a few days less than the IPO price. Shares of the share-sharing company fell 6% on Monday's trading.