Movement Alert｜Uber Rises 3.52% in Regular Trading, Extending Post-Earnings Oversold Rebound

Market Focus08-07 21:55

On August 7, Uber rose 3.52% in regular trading, trading at $74.04 per share, with turnover of $4.17 billion. The stock had declined over 5% in the prior two trading sessions following a mixed Q2 earnings report, and is now extending an oversold recovery.

On the news front, while Q2 revenue of $14.19 billion slightly missed the consensus estimate of $14.24 billion, total gross bookings of $58.02 billion exceeded expectations of $57.17 billion, and adjusted EBITDA of $2.82 billion also topped forecasts. CEO Dara Khosrowshahi attributed the revenue shortfall to a change in accounting treatment in the UK, emphasizing it was not a fundamental issue. He highlighted that consumer spending and the labor market remain healthy, with no signs of trade-down behavior. Additionally, Wells Fargo lowered its target price to $89, while the analyst consensus target remains around $104.66, suggesting continued upside potential from current levels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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