Uber Technologies (NYSE:UBER) Now Covered by Melius Research

Melius Research assumed coverage on shares of Uber Technologies (NYSE:UBER) in a research report released on Monday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $77.00 price objective on the ride-sharing company’s stock.

A number of other brokerages have also recently commented on UBER. Royal Bank of Canada reissued an outperform rating and issued a $80.00 price target on shares of Uber Technologies in a research report on Tuesday, May 28th. Piper Sandler boosted their price target on Uber Technologies from $86.00 to $88.00 and gave the stock an overweight rating in a research report on Tuesday, June 25th. Truist Financial boosted their price target on Uber Technologies from $90.00 to $94.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. JMP Securities reissued a market outperform rating and issued a $80.00 price target on shares of Uber Technologies in a research report on Thursday, May 16th. Finally, Loop Capital dropped their price target on Uber Technologies from $88.00 to $83.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $85.97.

Uber Technologies Stock Performance

Uber Technologies stock opened at $65.74 on Monday. The stock’s 50 day simple moving average is $68.60 and its two-hundred day simple moving average is $70.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $137.37 billion, a price-to-earnings ratio of 106.03, a PEG ratio of 1.44 and a beta of 1.36. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, analysts expect that Uber Technologies will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Uber Technologies news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock worth $78,213,297 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently bought and sold shares of UBER. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 34.8% during the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after purchasing an additional 43,275,830 shares during the last quarter. Norges Bank bought a new position in shares of Uber Technologies in the 4th quarter valued at about $1,415,778,000. Edgewood Management LLC bought a new position in shares of Uber Technologies in the 4th quarter valued at about $783,401,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 shares during the last quarter. Hedge funds and other 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.