BMO Capital raised its price target on Uber to $113 from $101 and affirmed an outperform rating on the shares after the earnings beat estimates, according to The Fly. What the investment firm called Uber's "robust" delivery growth accelerated 2 percentage points to 20% excluding foreign-exchange factors.

Uber Technologies shares were falling Wednesday. Better-than-expected earnings and a $20 billion stock buyback weren’t enough to add another gear to the ride-hailing company’s strong gains for the year.