Uber Technologies’ (UBER) “Buy” Rating Reiterated at Needham & Company LLC

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s target price suggests a potential upside of 22.87% from the stock’s current price.

Several other equities analysts have also recently weighed in on UBER. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $97.00 price target on shares of Uber Technologies in a research report on Friday, September 13th. TD Cowen increased their price objective on shares of Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Melius Research began coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.22.

Uber Technologies Stock Performance

Shares of UBER opened at $73.25 on Thursday. The stock has a market capitalization of $153.89 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34. The firm’s fifty day simple moving average is $75.36 and its two-hundred day simple moving average is $70.88. The company has a current ratio of 1.41, a quick ratio of 1.21 and a debt-to-equity ratio of 0.70. Uber Technologies has a 12 month low of $45.25 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, analysts predict that Uber Technologies will post 1.1 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in UBER. GHP Investment Advisors Inc. raised its position in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC raised its position in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares during the period. J.Safra Asset Management Corp purchased a new position in Uber Technologies in the 1st quarter worth $32,000. MCF Advisors LLC increased its position in shares of Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. Finally, Founders Capital Management purchased a new position in shares of Uber Technologies in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.