UBER Stock Higher After Executive Shake-Up

The stock's IPO of $45 has acted as a ceiling on the charts of late

Digital Content Manager
Jun 10, 2019 at 9:43 AM
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The shares of Uber Technologies Inc (NYSE:UBER) are slightly lower this morning, after CEO Dara Khosrowshai announced last Friday in an internal email that the company's Chief Operating Officer Barney Harford and Chief Marketing Officer Rebecca Messina were resigning, as it shakes up its executive structure. The equity is 0.6% higher, trading at $44.44 as a result, pacing to break out of its two-day losing streak. 

The dip comes just days after UBER hit its IPO price of $45 during midday trading. The security has yet to finish atop the region -- which acted as an area of pressure on the charts late last week. Despite this, UBER is still trading roughly 21.8% higher than its all-time lows that occurred the day after its debut. Plus, the stock is still trading atop its freshly emerged 10-day moving average. 

Analyst sentiment is still mostly bullish over the Wall Street freshman, with 21 "strong buy" ratings on the books, compared to just six holds. Plus, the consensus 12-month target price of $54.44 represents a $23.3% premium to current levels. 

Options traders have been mostly positive, too, with over 523,000 calls being bought in the last two weeks, compared to just 290,000 puts. Looking at near-term contracts specifically, there's notable open interest at the weekly 6/14 43-strike call.


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