Uber Technologies (UBER) stock surged 6.90% during intraday trading on Wednesday, as analysts maintained their bullish stance on the ride-hailing and delivery giant. The stock's strong performance comes amid growing investor interest and positive sentiment surrounding the company's growth prospects.

Needham, a prominent investment bank, reiterated its price target for Uber at $90.00 per share, signaling confidence in the company's future. This maintained target suggests significant upside potential from current trading levels, likely contributing to the stock's impressive rally.

Uber has been attracting increased attention from investors due to its strong financial performance and growth trajectory. The company recently reported a 20.4% year-over-year increase in revenues for its last quarter, alongside a substantial improvement in profitability. Uber's earnings per share (EPS) of $3.21 represented a remarkable 542% surprise compared to analyst estimates, highlighting the company's ability to exceed market expectations.

Furthermore, Uber's long-term growth prospects remain robust, with the company exploring new opportunities in areas such as robotaxis. A recent partnership with Alphabet's Waymo for the deployment of autonomous vehicles in Austin and Atlanta underscores Uber's commitment to staying at the forefront of transportation technology. As the company continues to expand its reach globally and diversify its services, investors appear increasingly optimistic about Uber's potential to deliver sustained growth and profitability in the coming years.