Uber Technologies (NYSE:UBER) Earns “Buy” Rating from Evercore ISI

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Evercore ISI reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research note released on Sunday, AnalystRatings.com reports.

“We are encouraged by adjusted Core Platform (CP) take-rates expanding ~100bps QoQ and faster than expected user growth – operational leverage was strong and is supportive of our LT thesis. Near term, bears pointing to the “chicken and the egg” problem (profits or growth?) – may carry the day…but we like bulls’ chances longer term as they took another step on the path to profitability. Bulls needed to peel back the onion to see 1) faster than expected MAPC growth; 2) greater than expected take-rate expansion driving 22% YoY FXN CP adj. net revenue (ANR) growth; 3) operational leverage that drove a 12-point QoQ expansion in CP contribution margins; and 4) FY19 EBITDA guide modestly above street estimates.”,” Evercore ISI’s analyst commented.

Other equities analysts also recently issued reports about the stock. CIBC initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating and a $55.00 target price on the stock. Daiwa Capital Markets initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 25th. They set a neutral rating on the stock. Royal Bank of Canada initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating and a $62.00 target price on the stock. William Blair initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set an outperform rating on the stock. Finally, BTIG Research initiated coverage on Uber Technologies in a research report on Tuesday, June 4th. They issued a buy rating and a $80.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $53.98.

NYSE UBER opened at $33.98 on Friday. Uber Technologies has a 1-year low of $33.36 and a 1-year high of $47.08. The stock has a fifty day moving average of $42.68.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($3.33) by ($1.39). The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned ($2.01) earnings per share. The company’s revenue was up 14.4% compared to the same quarter last year. Research analysts predict that Uber Technologies will post -6.46 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. D. E. Shaw & Co. Inc. acquired a new stake in shares of Uber Technologies during the second quarter worth approximately $21,428,000. Hillhouse Capital Management LTD. acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $697,346,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $1,347,000. Southpoint Capital Advisors LP acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $164,677,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $116,903,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users 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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