Uber Speeds Past Expectations, Analysts ‘Not Seeing Signs Of Consumer Softness’
Shares of Uber Technologies Inc (NYSE:UBER) were climbing on Wednesday, after the company reported impressive second-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- BofA Securities analyst Justin Post reiterated a Buy rating, while raising the price target from $87 to $88.
- Goldman Sachs analyst Eric Sheridan maintained a Buy rating, while lifting the price target from $85 to $90.
- Truist Securities analyst Youssef Squali maintained a Buy rating, while raising the price target from $86 to $88.
- JMP Securities analyst Andrew Boone reaffirmed a Market Outperform rating, while lifting the price target from $75 to $80.
- JPMorgan analyst Doug Anmuth reiterated an Overweight rating and price target of $95.
- RBC Capital Markets analyst Brad Erickson maintained an Outperform rating and price target of $80.
- BMO Capital Markets analyst Brian Pitz reaffirmed an Outperform rating and price target of $92
Check out other analyst stock ratings.
BofA Securities: Uber Technologies reported second-quarter revenues and EBITDA of $10.70 billion and $1.57 billion, respectively, beating consensus of $10.53 billion and $1.5 billion, “despite a large FX headwind,” Post said in a note. Bookings of $40.0 billion came in 1% above Street expectations, he added.
Although the midpoint of management’s guidance rage for third-quarter gross bookings between $40.25 billion and $41.75 billion came in slightly below consensus of $41.3 billion, “a stable 20.5% CC growth outlook is a positive given comps,” the analyst stated. “Profits were a bright spot, with the midpoint of Uber’s $1.58bn-$1.68bn EBITDA guide slightly above the Street at $1.625bn, …
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