Uber Technologies (NYSE:UBER) Shares Up 6.1%

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Uber Technologies Inc (NYSE:UBER) shot up 6.1% on Friday . The stock traded as high as $35.48 and last traded at $35.23, 13,870,802 shares changed hands during trading. A decline of 3% from the average session volume of 14,268,492 shares. The stock had previously closed at $33.22.

Several research firms have weighed in on UBER. Loop Capital began coverage on Uber Technologies in a report on Tuesday, June 4th. They set a “buy” rating for the company. SunTrust Banks set a $56.00 price target on Uber Technologies and gave the company a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus began coverage on Uber Technologies in a report on Tuesday, July 2nd. They set a “hold” rating and a $50.00 price target for the company. CIBC began coverage on Uber Technologies in a report on Tuesday, June 4th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Susquehanna Bancshares began coverage on Uber Technologies in a report on Tuesday, May 21st. They set a “neutral” rating and a $42.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Uber Technologies currently has an average rating of “Buy” and an average price target of $53.98.

The company has a quick ratio of 1.68, a current ratio of 2.57 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $42.27.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.33) by ($1.39). The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.39 billion. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the business posted ($2.01) EPS. As a group, analysts expect that Uber Technologies Inc will post -7.2 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. SB Investment Advisers UK Ltd. purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $10,306,943,000. BlackRock Inc. purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $1,020,876,000. Dragoneer Investment Group LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $986,048,000. Morgan Stanley purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $960,067,000. Finally, ICONIQ Capital LLC purchased a new position in Uber Technologies during the 2nd quarter valued at $737,300,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

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 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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