Uber's post-earnings stock move is 'overdone': Analyst

Uber (UBER) published its third quarter results Thursday, topping analyst expectations on both revenue and earnings. The rideshare platform reported revenue of $11.19 billion, above the estimated $10.99 billion. Adjusted earnings per share (EPS) came in at $1.20, far above the $0.45 Wall Street expected. Despite the beat, the stock is under pressure this morning. TD Cowen Managing Director and senior equity research analyst John Blackledge, who maintains a Buy rating on Uber, offers insights into the company's current market position. Blackledge highlights Uber's outperformance on all key metrics, including gross bookings, mobility, delivery, and EBITDA, calling it "a solid quarter." As far as the stock reaction to the report, Blackledge states "I think its kind of overdone and we're buyers on weakness."
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