Uber Technologies (NYSE:UBER) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Uber Technologies (NYSE:UBER) in a report released on Friday morning, TipRanks reports. They currently have a $50.00 target price on the ride-sharing company’s stock.

Several other equities analysts have also issued reports on UBER. MKM Partners upped their target price on Uber Technologies to $34.00 in a report on Tuesday, November 5th. Bank of America set a $53.00 target price on Uber Technologies and gave the company a buy rating in a report on Thursday, October 10th. Bernstein Bank started coverage on Uber Technologies in a report on Friday. They issued an outperform rating and a $40.00 target price for the company. Sanford C. Bernstein started coverage on Uber Technologies in a report on Thursday, January 9th. They issued an outperform rating and a $40.00 target price for the company. Finally, Macquarie set a $51.00 target price on Uber Technologies and gave the company a buy rating in a report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $48.44.

Shares of UBER opened at $34.14 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.82 and a quick ratio of 2.82. The stock has a 50 day moving average price of $30.21 and a two-hundred day moving average price of $33.87. Uber Technologies has a 52 week low of $25.58 and a 52 week high of $47.08.

Uber Technologies (NYSE:UBER) last released its earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.15. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.68 billion. Uber Technologies had a negative return on equity of 209.48% and a negative net margin of 63.57%. Uber Technologies’s quarterly revenue was up 29.5% on a year-over-year basis. On average, equities analysts anticipate that Uber Technologies will post -6.91 earnings per share for the current year.

In other Uber Technologies news, Director Travis Cordell Kalanick sold 1,412,310 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $26.57, for a total transaction of $37,525,076.70. Following the sale, the director now owns 75,132,095 shares in the company, valued at $1,996,259,764.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Manik Gupta sold 15,188 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.01, for a total value of $410,227.88. In the last quarter, insiders sold 63,880,823 shares of company stock worth $1,793,234,775.

Several large investors have recently bought and sold shares of the business. DNB Asset Management AS lifted its position in shares of Uber Technologies by 18.1% during the fourth quarter. DNB Asset Management AS now owns 32,014 shares of the ride-sharing company’s stock worth $952,000 after acquiring an additional 4,900 shares in the last quarter. Allred Capital Management LLC purchased a new stake in shares of Uber Technologies during the fourth quarter worth $87,000. Lake Street Financial LLC lifted its position in shares of Uber Technologies by 349.5% during the fourth quarter. Lake Street Financial LLC now owns 35,619 shares of the ride-sharing company’s stock worth $1,059,000 after acquiring an additional 27,694 shares in the last quarter. Evanson Asset Management LLC purchased a new stake in shares of Uber Technologies during the fourth quarter worth $243,000. Finally, New Capital Management LP purchased a new stake in shares of Uber Technologies during the fourth quarter worth $258,000. Hedge funds and other institutional investors own 45.01% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

Further Reading: Cost of Goods Sold (COGS)

Analyst Recommendations for Uber Technologies (NYSE:UBER)

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