Wall Street analysts called Uber a risky bet but are standing by the stock in the wake of the company's disappointing earnings report.
Shares of the ride hailing giant's stock tanked and are down over 7% in premarket trading."Given negative investor sentiment, the complicated nature of its financials and lack of profitability, we are not surprised to see shares reacting poorly to results," Barclays analysts said in a note to clients.
"While there are considerable risks in ownership across the space given the intense competition, regulatory issues, and operating pressures, we continue to believe the risk/reward in owning the leader in this space is favorable," Goldman Sachs said.
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