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

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s target price suggests a potential upside of 34.15% from the company’s current price.

UBER has been the subject of several other research reports. Gordon Haskett cut Uber Technologies from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a research note on Wednesday, January 24th. Mizuho upped their target price on Uber Technologies from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Argus upped their target price on Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays upped their target price on Uber Technologies from $63.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. increased their price objective on Uber Technologies from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.44.

Uber Technologies Trading Down 1.2 %

UBER traded down $0.84 during midday trading on Wednesday, hitting $67.09. The company’s stock had a trading volume of 4,291,059 shares, compared to its average volume of 20,444,395. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm has a market cap of $139.64 billion, a P/E ratio of 78.99, a PEG ratio of 1.09 and a beta of 1.39. The firm has a 50-day moving average price of $74.57 and a two-hundred day moving average price of $65.85. Uber Technologies has a 52-week low of $37.07 and a 52-week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that Uber Technologies will post 1.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the sale, the insider now directly owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the transaction, the insider now directly owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 18,750 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the transaction, the insider now owns 185,566 shares in the company, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently bought and sold shares of UBER. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 34.8% during the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after buying an additional 43,275,830 shares during the last quarter. Capital World Investors grew its holdings in shares of Uber Technologies by 0.7% during the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after buying an additional 283,802 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Uber Technologies by 28.4% during the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after buying an additional 8,164,816 shares during the last quarter. Norges Bank acquired a new position in shares of Uber Technologies during the fourth quarter valued at about $1,415,778,000. Finally, Brown Advisory Inc. grew its holdings in shares of Uber Technologies by 14.7% during the fourth quarter. Brown Advisory Inc. now owns 17,991,630 shares of the ride-sharing company’s stock valued at $1,107,745,000 after buying an additional 2,307,763 shares during the last quarter. Institutional investors 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.