Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by Evercore ISI in a research report issued to clients and investors on Sunday, AnalystRatings.com reports.
The analysts wrote, “We are encouraged by adjusted Core Platform (CP) take-rates expanding ~100bps QoQ and faster than expected user growth – operational leverage was strong and is supportive of our LT thesis. Near term, bears pointing to the “chicken and the egg” problem (profits or growth?) – may carry the day…but we like bulls’ chances longer term as they took another step on the path to profitability. Bulls needed to peel back the onion to see 1) faster than expected MAPC growth; 2) greater than expected take-rate expansion driving 22% YoY FXN CP adj. net revenue (ANR) growth; 3) operational leverage that drove a 12-point QoQ expansion in CP contribution margins; and 4) FY19 EBITDA guide modestly above street estimates.””
A number of other analysts have also recently weighed in on the company. Wolfe Research initiated coverage on Uber Technologies in a research report on Tuesday, June 4th. They set a “market perform” rating on the stock. Wedbush reiterated a “buy” rating and set a $58.00 price target on shares of Uber Technologies in a research report on Friday. Susquehanna Bancshares initiated coverage on Uber Technologies in a research report on Tuesday, May 21st. They set a “neutral” rating and a $42.00 price target on the stock. Cross Research initiated coverage on Uber Technologies in a research report on Tuesday, May 28th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price target on Uber Technologies from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Uber Technologies currently has a consensus rating of “Buy” and a consensus target price of $53.90.
Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share 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 analyst estimates of $3.39 billion. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned ($2.01) EPS. As a group, research analysts forecast that Uber Technologies will post -6.46 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC bought a new stake in shares of Uber Technologies during the 2nd quarter worth $5,566,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Uber Technologies during the 2nd quarter worth $37,375,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Uber Technologies during the 2nd quarter worth $533,000. Oppenheimer & Co. Inc. bought a new stake in shares of Uber Technologies during the 2nd quarter worth $1,500,000. Finally, Jennison Associates LLC bought a new stake in shares of Uber Technologies during the 2nd quarter worth $322,520,000. 0.27% of the stock is owned by hedge funds and other institutional investors.
Uber Technologies Company Profile
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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