Wedbush Reiterates “Buy” Rating for Uber Technologies (NYSE:UBER)

Wedbush reissued their buy rating on shares of Uber Technologies (NYSE:UBER) in a report released on Friday morning, AnalystRatings.com reports. Wedbush currently has a $58.00 target price on the ride-sharing company’s stock.

A number of other equities analysts have also recently commented on the stock. Macquarie assumed coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an outperform rating on the stock. DA Davidson decreased their target price on shares of Uber Technologies to $46.00 and set a buy rating on the stock in a research report on Friday, May 31st. Oppenheimer assumed coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an outperform rating and a $55.00 target price on the stock. Evercore ISI assumed coverage on shares of Uber Technologies in a research report on Wednesday, June 12th. They issued an outperform rating and a $60.00 target price on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an outperform rating and a $62.00 target price on the stock. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $53.98.

Uber Technologies stock opened at $37.24 on Friday. The firm’s fifty day moving average is $42.99. Uber Technologies has a fifty-two week low of $36.08 and a fifty-two week high of $47.08.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.33) by ($1.39). The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.39 billion. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.01) EPS. As a group, sell-side analysts expect that Uber Technologies will post -6.46 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in UBER. AE Wealth Management LLC bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $564,000. Gulf International Bank UK Ltd bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $2,356,000. Zions Bancorporation N.A. bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $149,000. IFM Investors Pty Ltd bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $608,000. Finally, Legacy Advisors LLC bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $26,000. 0.27% of the stock is currently owned by institutional investors and hedge funds.

About Uber Technologies

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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