BTIG sees Uber Q4 bookings more in middle than high-end of outlook

BTIG analyst Jake Fuller says that while Uber‘s (UBER) commentary on its U.S. rideshare business “felt constructive” at intra-quarter appearances, the firm’s receipt data was “more downbeat” with deceleration for the company in rideshare offsetting an acceleration in delivery. Uber also pointed out that currency moves has worsened since its guidance was initially provided, the analyst tells investors in a research note. Uber has consistently met on bookings, and BTIG isn’t expecting different in Q4, but the firm is “thinking more like the middle than the high-end” of the 14%-18% guidance with a Q1 outlook modestly slower. BTIG keeps a Buy rating on the shares with a $90 price target