Needham analyst Brad Erickson assigned a Buy rating to Uber Technologies (UBER) today and set a price target of $42.00. The company’s shares closed last Thursday at $34.71.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 27.5% and a 56.6% success rate. Erickson covers the Technology sector, focusing on stocks such as Fiverr International, ANGI Homeservices, and Shutterstock.
Currently, the analyst consensus on Uber Technologies is a Strong Buy with an average price target of $42.05, implying a 26.4% upside from current levels. In a report issued on July 28, Morgan Stanley also maintained a Buy rating on the stock with a $44.00 price target.
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Based on Uber Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.54 billion and GAAP net loss of $2.94 billion. In comparison, last year the company earned revenue of $3.1 billion and had a GAAP net loss of $1.01 billion.
Based on the recent corporate insider activity of 147 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UBER in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Uber Technologies, Inc. operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through following segments: Core Platform and Other Bets. Core Platform primarily includes the ridesharing and Uber Eats products; while Other Bets primarily includes the Company’s Freight and New Mobility products. The company was founded by Oscar Salazar Gaitan, Travis Kalanick and Garrett Camp in 2009 and is headquartered in San Francisco, CA.
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