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Why Jim Cramer Thinks Uber Can Be More Than a Cab Company

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Uber's (UBER) - Get Free Report quiet period is over. 

Which means that analysts are releasing notes and ratings on the ride-sharing app. 

Over 20 analysts initiated coverage of Uber with a buy Tuesday morning. 

"The stock essentially flat following an 18% decline from its IPO price of $45 as public investors have for now eschewed the long period of loss-making implied in Uber's business model, and it's quite possible that the stock may experience an extended "seasoning" period as it works through pent-up supply from early investors seeking partial liquidity," said Canaccord Genuity analyst Michale Graham, who initiated coverage on Uber with a $55 price target and a buy rating .

"I think that Uber is below the offering price and that means that a lot of analysts want to buy it. You're buying it if you think that it can be more than a cab company. I think it can be," said Jim Cramer.

Cramer said that he believes in the company because of its "remarkable" leadership. 

Related. Uber Showing Signs of a Modest Rally, but the Risk/Reward Setup Is Not the Best

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