Equities research analysts at Evercore ISI started coverage on shares of Uber Technologies (NYSE:UBER) in a report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the ride-sharing company’s stock.
A number of other brokerages have also weighed in on UBER. Morgan Stanley initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $56.00 target price on the stock. Susquehanna Bancshares initiated coverage on Uber Technologies in a report on Tuesday, May 21st. They issued a “neutral” rating and a $42.00 price objective for the company. Needham & Company LLC initiated coverage on Uber Technologies in a report on Tuesday, June 4th. They issued a “buy” rating and a $52.00 price objective for the company. DA Davidson cut their price objective on Uber Technologies to $46.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Wedbush reiterated a “buy” rating and issued a $65.00 price objective on shares of Uber Technologies in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Uber Technologies currently has a consensus rating of “Buy” and a consensus target price of $54.02.
Shares of NYSE:UBER traded down $0.28 during midday trading on Wednesday, reaching $42.17. 5,826,040 shares of the company traded hands, compared to its average volume of 22,308,994. Uber Technologies has a 12 month low of $36.08 and a 12 month high of $45.75.
Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, May 30th. The ride-sharing company reported ($2.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.39) by $0.13. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Research analysts forecast that Uber Technologies will post -5.93 earnings per share for the current year.
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 riders and eaters 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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