Merrill Lynch Sticks to Its Buy Rating for Uber Technologies Inc (UBER)

In a report released yesterday, Justin Post from Merrill Lynch maintained a Buy rating on Uber Technologies Inc (UBERResearch Report), with a price target of $53. The company’s shares closed yesterday at $43.70.

According to TipRanks.com, Post is a top 100 analyst with an average return of 18.4% and a 72.9% success rate. Post covers the Technology sector, focusing on stocks such as Pinterest Inc, Alphabet Inc, and SciPlay Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Uber Technologies Inc with a $53.33 average price target, implying a 22.0% upside from current levels. In a report issued on June 25, Morgan Stanley also reiterated a Buy rating on the stock with a $56 price target.

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The company has a one-year high of $47.08 and a one-year low of $36.08. Currently, Uber Technologies Inc has an average volume of 20.65M.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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. The company was founded by Oscar Salazar Gaitan, Travis Kalanick, and Garrett Camp in 2009 and is headquartered in San Francisco, CA.