Movement Alert｜Uber Rises 3.11% in Regular Trading, Technical Rebound After Post-Earnings Sell-Off

Market Focus08-07 00:37

On August 7, Uber rose 3.11% in regular trading, trading at $70.23/share, with turnover of $955 million. The stock is staging an oversold recovery after falling more than 5% over the prior two sessions following its Q2 earnings release.

The rebound comes as the market digests Uber's mixed Q2 results. Revenue of $14.19 billion slightly missed the $14.24 billion consensus, while total gross bookings of $58.02 billion exceeded the $57.17 billion estimate. Adjusted EPS of $0.81 met expectations. CEO Dara Khosrowshahi attributed the revenue shortfall to a UK accounting change, calling it not a fundamental issue. He emphasized that consumer spending remains healthy with no signs of trade-down behavior.

The initial sell-off was also driven by softer Q3 guidance, with projected adjusted EPS of $0.84-$0.88 below the $0.89 consensus. Analysts at D.A. Davidson and Oppenheimer cut price targets to $100 and $90 respectively, though the average target remains at $104.66. Additionally, Uber announced plans to invest over $10 billion in autonomous vehicles over the coming years, expanding operations to 15 markets by year-end.

(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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