Uber Technologies’ (UBER) Buy Rating Reiterated at Wedbush

Wedbush reiterated their buy rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday, August 9th, AnalystRatings.com reports. Wedbush currently has a $58.00 price target on the ride-sharing company’s stock.

A number of other equities analysts also recently weighed in on the company. William Blair assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating on the stock. DA Davidson lowered their price target on Uber Technologies to $46.00 and set a buy rating on the stock in a research report on Friday, May 31st. Citigroup assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They set a neutral rating and a $45.00 price target on the stock. Macquarie assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating on the stock. Finally, Cowen assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating and a $58.00 price target on the stock. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Uber Technologies has a consensus rating of Buy and a consensus price target of $53.98.

NYSE UBER opened at $33.22 on Friday. The company has a fifty day moving average price of $42.48. The company has a quick ratio of 1.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.36. Uber Technologies has a 52 week low of $32.92 and a 52 week high of $47.08.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) EPS for the quarter, missing analysts’ consensus estimates of ($3.33) by ($1.39). The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted ($2.01) EPS. Uber Technologies’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts expect that Uber Technologies will post -7.2 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Legacy Advisors LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $26,000. Avestar Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $27,000. Sound Income Strategies LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $28,000. Signaturefd LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $31,000. Finally, Regal Wealth Group Inc. purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $32,000. 5.52% of the stock is currently owned by hedge funds and other institutional investors.

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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