Uber Technologies (UBER) Gets a Buy from Needham

Needham analyst Bernie McTernan maintained a Buy rating on Uber Technologies (UBERResearch Report) today and set a price target of $52.00. The company’s shares closed yesterday at $30.47.

McTernan covers the Services sector, focusing on stocks such as DraftKings, Penn National Gaming, and Upwork. According to TipRanks, McTernan has an average return of -18.0% and a 29.22% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Uber Technologies with a $47.64 average price target, a 56.35% upside from current levels. In a report released on September 12, Goldman Sachs also reiterated a Buy rating on the stock with a $45.00 price target.

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Based on Uber Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.07 billion and a GAAP net loss of $2.6 billion. In comparison, last year the company earned a revenue of $3.93 billion and had a net profit of $1.14 billion

Based on the recent corporate insider activity of 109 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.

Founded in 2009, Uber Technologies, Inc. is a San Francisco, California-based transportation networking company that offers a ride-hailing service. It also has a food order and delivery business called Uber Eats, and a freight transportation business called Uber Freight.

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