Uber Technologies (UBER) Stock: Why It Increased 4.9%

By Amit Chowdhry ● Aug 2, 2022
  • The stock price of Uber Technologies (UBER) increased by 4.9% in the previous trading session. This is why.

The stock price of Uber Technologies (UBER) increased by 4.9% in the previous trading session. Investors responded positively to a bullish research report.

Deutsche Bank analyst Benjamin Black assigned Uber a price target of $40. And Black gave the company a “Buy” rating ahead of the company’s second-quarter results.

Black pointed out that the demand backdrop for ride-sharing for Uber and Lyft remains strong with intra-quarter checks showcasing momentum in mobility trends. And while the current tailwinds supporting the demand side are pretty clear, there is greater apprehension around the supply side of the equation – which is weighing on the sentiment across the group.