Oppenheimer Asset Management Inc. purchased a new stake in shares of Uber Technologies Inc (NYSE:UBER) in the second quarter, HoldingsChannel reports. The institutional investor purchased 11,481 shares of the ride-sharing company’s stock, valued at approximately $533,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Advisors LLC purchased a new stake in Uber Technologies during the second quarter valued at about $26,000. Avestar Capital LLC acquired a new position in shares of Uber Technologies during the second quarter worth about $27,000. Sound Income Strategies LLC bought a new position in shares of Uber Technologies during the second quarter worth about $28,000. Signaturefd LLC bought a new position in shares of Uber Technologies during the second quarter worth about $31,000. Finally, Regal Wealth Group Inc. acquired a new stake in Uber Technologies in the 2nd quarter valued at approximately $32,000. 45.32% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on UBER shares. Raymond James boosted their target price on Uber Technologies from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Consumer Edge assumed coverage on shares of Uber Technologies in a research note on Tuesday, May 21st. They set an “equal weight” rating for the company. Oppenheimer set a $55.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity started coverage on shares of Uber Technologies in a report on Tuesday, June 4th. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, DA Davidson cut their price objective on shares of Uber Technologies to $46.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Uber Technologies has a consensus rating of “Buy” and an average target price of $53.98.
Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.33) by ($1.39). The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.39 billion. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.01) earnings per share. As a group, research analysts forecast that Uber Technologies Inc will post -7.2 earnings per share for the current year.
Uber Technologies 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.
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