SunTrust Banks Begins Coverage on Uber Technologies (NYSE:UBER)

SunTrust Banks started coverage on shares of Uber Technologies (NYSE:UBER) in a research report report published on Tuesday, June 4th, BenzingaRatingsTable reports. The firm issued a buy rating and a $56.00 price objective on the ride-sharing company’s stock. SunTrust Banks also issued estimates for Uber Technologies’ Q2 2019 earnings at ($3.41) EPS, Q3 2019 earnings at ($0.87) EPS, Q4 2019 earnings at ($0.73) EPS, FY2019 earnings at ($6.66) EPS, FY2020 earnings at ($3.06) EPS, FY2021 earnings at ($2.46) EPS, FY2022 earnings at ($1.93) EPS and FY2023 earnings at ($1.32) EPS.

Other research analysts have also issued research reports about the stock. Susquehanna Bancshares began coverage on shares of Uber Technologies in a research note on Tuesday, May 21st. They issued a neutral rating and a $42.00 target price on the stock. Needham & Company LLC began coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They issued a buy rating and a $52.00 target price on the stock. Wedbush began coverage on shares of 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 began coverage on shares of Uber Technologies in a research note on Wednesday, May 1st. They issued a neutral rating and a $53.00 target price on the stock. Finally, Atlantic Securities raised shares of Uber Technologies from a neutral rating to an overweight rating and set a $40.40 price objective on the stock in a research note on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Uber Technologies has a consensus rating of Buy and a consensus target price of $54.28.

UBER traded up $1.25 during midday trading on Tuesday, hitting $46.38. The company had a trading volume of 28,639,607 shares, compared to its average volume of 12,220,733. Uber Technologies has a twelve month low of $36.08 and a twelve month high of $47.08. The firm has a 50-day moving average price of $42.35.

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