Macquarie Initiates Coverage on Uber Technologies (NYSE:UBER)

Equities research analysts at Macquarie assumed coverage on shares of Uber Technologies (NYSE:UBER) in a report issued on Tuesday, June 4th, MarketBeat reports. The firm set an “outperform” rating on the ride-sharing company’s stock.

A number of other equities analysts have also commented on the company. Wolfe Research assumed coverage on Uber Technologies in a research note on Tuesday, June 4th. They set a “market perform” rating on the stock. Loop Capital started coverage on Uber Technologies in a research report on Tuesday, June 4th. They set a “buy” rating on the stock. Royal Bank of Canada started coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an “outperform” rating and a $62.00 price objective on the stock. Morgan Stanley started coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an “overweight” rating and a $56.00 price objective on the stock. Finally, William Blair started coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Uber Technologies has an average rating of “Buy” and a consensus price target of $54.28.

Uber Technologies stock traded up $1.25 during mid-day trading on Tuesday, reaching $46.38. 28,642,900 shares of the company were exchanged, compared to its average volume of 18,125,902. The firm’s fifty day simple moving average is $42.35. Uber Technologies has a 12 month low of $36.08 and a 12 month high of $47.08.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, May 30th. The ride-sharing company reported ($2.26) EPS for the quarter, topping the Zacks’ consensus estimate 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 business’s revenue was up 19.9% on a year-over-year basis. On average, equities analysts expect that Uber Technologies will post -5.93 earnings per share for the current year.

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 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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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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