Uber Posts Q2 Beat, Well-Positioned To Drive Strong Growth: Analysts

Shares of Uber Technologies Inc. (NYSE:UBER) rose slightly in early trading on Thursday, after the company reported upbeat second-quarter results on Wednesday.

Here are some key analyst takeaways.

Wedbush analyst Scott Devitt reiterated a Neutral rating, while reducing the price target from $85 to $84.

JPMorgan analyst Doug Anmuth maintained an Overweight rating and price target of $110.

Needham analyst Bernie McTernan reaffirmed a Buy rating and price target of $109.

Check out other analyst stock ratings.

Wedbush: Uber reported gross bookings of $46.8 billion. That’s up 17.0% year-on-year and ahead of consensus of $46.4 billion. Adjusted EBITDA came in at $2.1 billion, with a 16.7% margin, in line with expectations, Devitt said.

Management guided to third-quarter gross bookings of $48.3-$49.8 billion, ...