Oppenheimer Believes Uber Technologies (NYSE: UBER) Won’t Stop Here

By Carrie Williams

Oppenheimer analyst Jason Helfstein assigned a Buy rating to Uber Technologies (UBERResearch Report) today and set a price target of $47.00. The company’s shares closed last Wednesday at $49.11, close to its 52-week high of $50.09.

According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 33.1% and a 72.1% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Fiverr International, and ANGI Homeservices.

Uber Technologies has an analyst consensus of Strong Buy, with a price target consensus of $48.57, a -0.4% downside from current levels. In a report issued on November 6, Wedbush also maintained a Buy rating on the stock with a $49.00 price target.

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Based on Uber Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.13 billion and GAAP net loss of $1.09 billion. In comparison, last year the company earned revenue of $3.81 billion and had a GAAP net loss of $1.16 billion.

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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.