Uber Technologies (NYSE:UBER) Lifted to Buy at HSBC

HSBC upgraded shares of Uber Technologies (NYSE:UBER) from a hold rating to a buy rating in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has $44.00 target price on the ride-sharing company’s stock, down from their previous target price of $49.00.

Other analysts have also recently issued research reports about the stock. Barclays assumed coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They set an overweight rating and a $50.00 price target for the company. Bank of America assumed coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They set a buy rating and a $53.00 price target for the company. Raymond James increased their price target on shares of Uber Technologies from $50.00 to $54.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Northcoast Research assumed coverage on shares of Uber Technologies in a research note on Thursday, June 20th. They set a neutral rating for the company. Finally, Loop Capital decreased their price target on shares of Uber Technologies from $54.00 to $48.00 and set a buy rating for the company in a research note on Thursday, September 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $53.31.

Shares of NYSE:UBER opened at $34.26 on Monday. The stock’s fifty day simple moving average is $35.38. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.36. Uber Technologies has a 1-year low of $30.67 and a 1-year high of $47.08.

Uber Technologies (NYSE:UBER) last issued 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 company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Uber Technologies’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.01) EPS. As a group, research analysts expect that Uber Technologies will post -7.08 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in UBER. DNB Asset Management AS purchased a new position in shares of Uber Technologies in the 2nd quarter valued at about $1,109,000. Equitec Specialists LLC purchased a new position in Uber Technologies during the 2nd quarter valued at about $116,000. Zions Bancorporation N.A. purchased a new position in Uber Technologies during the 2nd quarter valued at about $149,000. Gulf International Bank UK Ltd purchased a new position in Uber Technologies during the 2nd quarter valued at about $2,356,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Uber Technologies during the 2nd quarter valued at about $5,508,000. Institutional investors and hedge funds own 45.32% of the company’s stock.

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 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.

Recommended Story: LIBOR

Analyst Recommendations for Uber Technologies (NYSE:UBER)

Receive News & Ratings for Uber Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.