Bank of America Initiates Coverage on Uber Technologies (NYSE:UBER)

Bank of America assumed coverage on shares of Uber Technologies (NYSE:UBER) in a report released on Tuesday, June 4th, Benzinga reports. The firm issued a buy rating and a $53.00 price objective on the ride-sharing company’s stock.

Several other equities research analysts also recently issued reports on the company. Consumer Edge started coverage on Uber Technologies in a research report on Tuesday, May 21st. They set an equal weight rating on the stock. Barclays initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an overweight rating and a $50.00 target price for the company. Atlantic Securities initiated coverage on shares of Uber Technologies in a research report on Friday, May 3rd. They issued a neutral rating and a $55.00 target price for the company. Deutsche Bank initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued a buy rating and a $58.00 target price for the company. Finally, JMP Securities initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They issued an outperform rating and a $54.00 target price for the company. Seven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $54.28.

UBER stock traded up $1.25 during midday trading on Tuesday, reaching $46.38. 28,642,900 shares of the stock were exchanged, compared to its average volume of 18,125,902. Uber Technologies has a 52 week low of $36.08 and a 52 week high of $47.08. The firm has a fifty day moving average of $42.35.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, May 30th. The ride-sharing company reported ($2.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.39) by $0.13. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. The business’s quarterly revenue was up 19.9% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies will post -5.93 earnings per share for the current fiscal 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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