Uber Technologies (NYSE:UBER) Cut to “Hold” at Citizens Jmp

Uber Technologies (NYSE:UBER) was downgraded by investment analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group increased their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wolfe Research raised their price target on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Stock Up 2.2 %

Shares of Uber Technologies stock opened at $64.59 on Thursday. The business has a 50-day moving average price of $67.98 and a 200 day moving average price of $70.69. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market cap of $136.01 billion, a P/E ratio of 32.13, a P/E/G ratio of 0.75 and a beta of 1.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the previous year, the business earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts forecast that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Geode Capital Management LLC boosted its position in Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after acquiring an additional 893,652 shares during the period. Edgewood Management LLC lifted its position in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 shares during the period. Janus Henderson Group PLC grew its position in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after buying an additional 1,601,747 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

About Uber Technologies

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.