Why Uber And Lyft Are Moving Today

Shares of Uber Technologies, Inc. UBER and Lyft, Inc. LYFT are trading higher Cowen & Co. maintained an Outperform rating on the stocks and raised its price targets.

Cowen & Co. analyst John Blackledge maintained an Outperform rating on Uber and raised the price target from $76 to $80.

Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.

Uber's stock was trading about 1.7% higher at $50.96 at the time of publication. The stock has a 52-week high of $64.05 and a 52-week low of $28.48.

Cowen & Co. analyst John Blackledge maintained an Outperform rating on Lyft and raised the price target from $72 to $76.

Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app.

Lyft's stock was trading about 3.2% higher at $62.46. The stock has a 52-week high of $68.28 and a 52-week low of $21.34.