Uber Technologies’ (UBER) Buy Rating Reaffirmed at Needham & Company LLC

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 31.22% from the company’s current price.

A number of other research firms have also issued reports on UBER. Daiwa Capital Markets lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Thursday, October 17th. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Wells Fargo & Company cut their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Bank of America increased their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Price Performance

Uber Technologies stock opened at $68.59 on Monday. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $65.86 and its 200 day simple moving average is $70.26. The firm has a market capitalization of $144.42 billion, a PE ratio of 34.12, a P/E/G ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, equities research analysts predict that Uber Technologies will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of Uber Technologies during the fourth quarter valued at about $166,072,000. Edgewood Management LLC raised its stake in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new stake in shares of Uber Technologies during the third quarter valued at about $163,468,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.