Mark Mahaney reveals his top picks ahead of earnings

The U.S. stock market is likely to be eventful in the upcoming weeks as companies continue to report their quarterly results. Ahead of earnings, Mark Mahaney said Netflix Inc (NASDAQ: NFLX) and Uber Technologies Inc (NYSE: UBER) are set to “outperform” in the fourth quarter.

Mahaney confirms his outperform rating on NFLX

On Friday, Mahaney rated Netflix at “outperform” with a price target of $695 that represents a 10% upside from here.

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The Evercore ISI analyst expects a strong content slate to drive much of the growth for the media giant in the fourth quarter. He is convinced that content strength will sustain in 2022 as well.

In August, Netflix resorted to another price hike in Europe that Mahaney says would help boost the average revenue per user. The California-based company recently partnered with Walmart Inc to launch Netflix Hub – a new retail destination focused on Netflix merchandise.

Netflix is set to report its quarterly results on October 19^th.

Mahaney sees a 45% upside in Uber Technologies

Also on Friday, Mahaney reiterated Uber at “outperform” with a price target of $70 a share that translates to a roughly 45% upside from here.

His bullish call is partially based on Uber Eats – the fastest-growing U.S. food delivery business. Demand for ride-sharing is also likely to gain traction in the upcoming months as COVID-19 restrictions continue to ease.

At current levels, Uber is a “very attractive” buy, Mahaney added in his research note. The California-based company will report its quarterly results on November 4^th. Last month, CEO Dara Khosrowshahi said Uber will hit its profitability milestone ahead of schedule.