Uber Technologies (NYSE:UBER) PT Raised to $56.00

Uber Technologies (NYSE:UBER) had its target price hoisted by JMP Securities from $54.00 to $56.00 in a research note published on Monday, BenzingaRatingsTable reports. They currently have a market outperform rating on the ride-sharing company’s stock.

Several other analysts have also issued reports on the stock. Consumer Edge assumed coverage on shares of Uber Technologies in a research report on Tuesday, May 21st. They set an equal weight rating for the company. Goldman Sachs Group assumed coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set a buy rating and a $56.00 target price for the company. Northcoast Research assumed coverage on shares of Uber Technologies in a research report on Thursday, June 20th. They set a neutral rating for the company. HSBC assumed coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They set a hold rating and a $49.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating and a $55.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Uber Technologies has a consensus rating of Buy and a consensus target price of $53.98.

Shares of NYSE UBER opened at $33.22 on Monday. The firm’s 50 day simple moving average is $42.48. Uber Technologies has a 12-month low of $32.92 and a 12-month high of $47.08.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.33) by ($1.39). The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.39 billion. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business earned ($2.01) EPS. On average, equities analysts predict that Uber Technologies will post -7.12 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. SB Investment Advisers UK Ltd. purchased a new position in shares of Uber Technologies in the second quarter worth $10,306,943,000. BlackRock Inc. purchased a new position in shares of Uber Technologies in the second quarter worth $1,020,876,000. Dragoneer Investment Group LLC purchased a new position in shares of Uber Technologies in the second quarter worth $986,048,000. Morgan Stanley purchased a new position in shares of Uber Technologies in the second quarter worth $960,067,000. Finally, ICONIQ Capital LLC purchased a new position in shares of Uber Technologies in the second quarter worth $737,300,000. 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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