Goldman Sachs Group Initiates Coverage on Uber Technologies (NYSE:UBER)

Goldman Sachs Group started coverage on shares of Uber Technologies (NYSE:UBER) in a research note published on Tuesday, June 4th, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $56.00 price target on the ride-sharing company’s stock.

Several other equities analysts have also weighed in on UBER. Wedbush began coverage on Uber Technologies in a research note on Wednesday, May 1st. They issued an outperform rating and a $65.00 target price on the stock. DA Davidson initiated coverage on Uber Technologies in a report on Wednesday, May 1st. They issued a neutral rating and a $53.00 target price for the company. Bank of America assumed coverage on Uber Technologies in a report on Tuesday, June 4th. They issued a buy rating and a $53.00 target price for the company. Wolfe Research initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a market perform rating on the stock. Finally, Deutsche Bank initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a buy rating and a $58.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Uber Technologies has a consensus rating of Buy and a consensus price target of $54.28.

NYSE:UBER traded up $1.25 during trading hours on Tuesday, hitting $46.38. The stock had a trading volume of 28,642,900 shares, compared to its average volume of 18,125,902. Uber Technologies has a 1-year low of $36.08 and a 1-year high of $47.08. The firm has a 50 day simple 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.39) by $0.13. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities research analysts anticipate that Uber Technologies will post -5.93 EPS 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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