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MarketScreener Homepage  >  Equities  >  Nyse  >  Uber Technologies, Inc.    UBER

UBER TECHNOLOGIES, INC.

(UBER)
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Uber Technologies : and Lyft Must Classify Drivers as Employees, Appeals Court Says

10/22/2020 | 09:48pm EST

By Preetika Rana

Uber Technologies Inc. and Lyft Inc. are misclassifying their workers as independent contractors and need to treat them as employees according to state labor law, a California appeals court said Thursday, affirming a lower court ruling from August that threatened to upend the companies' business models.

Uber and Lyft would need to comply with the reclassification within 30 days of a formal ruling, which could take several weeks.

The companies, along with DoorDash Inc., Postmates Inc. and Instacart Inc., have raised more than $189 million for a ballot initiative on Nov. 3, asking that voters exempt them from such a reclassification. That result would supersede any court rulings.

(More to come.)

Write to Preetika Rana at preetika.rana@wsj.com

(END) Dow Jones Newswires

10-22-20 2147ET

Stocks mentioned in the article
ChangeLast1st jan.
LYFT, INC. -0.73% 39.2503 Delayed Quote.-8.14%
UBER TECHNOLOGIES, INC. 0.02% 50.92 Delayed Quote.70.81%
All news about UBER TECHNOLOGIES, INC.
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11/18Uber looks to partner with other self-driving companies -CEO
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More news
Financials (USD)
Sales 2020 12 557 M - -
Net income 2020 -6 692 M - -
Net Debt 2020 1 789 M - -
P/E ratio 2020 -13,4x
Yield 2020 -
Capitalization 89 599 M 89 599 M -
EV / Sales 2020 7,28x
EV / Sales 2021 5,15x
Nbr of Employees 21 600
Free-Float 96,7%
Chart UBER TECHNOLOGIES, INC.
Duration : Period :
Uber Technologies, Inc. Technical Analysis Chart | UBER | US90353T1007 | MarketScreener
Technical analysis trends UBER TECHNOLOGIES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 49,26 $
Last Close Price 50,80 $
Spread / Highest target 28,0%
Spread / Average Target -3,02%
Spread / Lowest Target -55,7%
EPS Revisions
Managers
NameTitle
Dara Khosrowshahi Chief Executive Officer & Director
Ronald D. Sugar Chairman
Nelson J. Chai Chief Financial Officer
Sukumar Rathnam Chief Technology Officer
Yasir bin Othman Al-Rumayyan Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
UBER TECHNOLOGIES, INC.70.81%89 599
TENCENT HOLDINGS LIMITED56.02%719 298
NETFLIX, INC.49.89%214 271
PROSUS N.V.36.78%181 950
NASPERS LIMITED38.99%89 478
SPOTIFY TECHNOLOGY S.A.80.60%51 205