Uber Technologies (NYSE:UBER) Trading 6.2% Higher

Uber Technologies Inc (NYSE:UBER) traded up 6.2% during mid-day trading on Thursday . The stock traded as high as $45.30 and last traded at $45.13. 20,119,910 shares changed hands during trading, an increase of 13% from the average session volume of 17,806,143 shares. The stock had previously closed at $42.50.

Several equities analysts have issued reports on the company. Daiwa Capital Markets assumed coverage on Uber Technologies in a research report on Tuesday. They set a “neutral” rating on the stock. Northcoast Research assumed coverage on Uber Technologies in a research report on Thursday, June 20th. They set a “neutral” rating on the stock. Evercore ISI assumed coverage on Uber Technologies in a research report on Wednesday, June 12th. They set an “outperform” rating and a $60.00 target price on the stock. Raymond James assumed coverage on Uber Technologies in a research report on Wednesday, June 5th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, CIBC assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They set an “outperform” rating and a $55.00 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $54.28.

The firm has a 50 day moving average of $42.35.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, May 30th. The ride-sharing company reported ($2.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.39) by $0.13. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Uber Technologies’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, research analysts forecast that Uber Technologies Inc will post -5.93 EPS for the current year.

About Uber Technologies (NYSE:UBER)

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.

Read More: Return on Investment (ROI)

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