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

Royal Bank of Canada assumed coverage on shares of Uber Technologies (NYSE:UBER) in a report released on Tuesday, June 4th, BenzingaRatingsTable reports. The firm issued an outperform rating and a $62.00 price objective on the ride-sharing company’s stock.

Several other research analysts also recently commented on UBER. Wedbush initiated coverage on Uber Technologies in a report on Wednesday, May 1st. They set an outperform rating and a $65.00 target price on the stock. DA Davidson started coverage on shares of Uber Technologies in a research report on Wednesday, May 1st. They set a neutral rating and a $53.00 price target for the company. Atlantic Securities started coverage on shares of Uber Technologies in a research report on Friday, May 3rd. They set a neutral rating and a $55.00 price target for the company. Consumer Edge started coverage on shares of Uber Technologies in a research report on Tuesday, May 21st. They set an equal weight rating for the company. Finally, Susquehanna Bancshares started coverage on shares of Uber Technologies in a research report on Tuesday, May 21st. They set a neutral rating and a $42.00 price target for the company. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of Buy and an average 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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