Uber Technologies (NYSE:UBER) Given Market Outperform Rating at JMP Securities

Uber Technologies (NYSE:UBER)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $75.00 price objective on the ride-sharing company’s stock. JMP Securities’ price target suggests a potential upside of 18.82% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Tuesday. Morgan Stanley lifted their price objective on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Melius Research initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target for the company. Bank of America cut their price objective on shares of Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $89.00 price objective (down previously from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.82.

Uber Technologies Stock Performance

NYSE:UBER traded down $0.64 during mid-day trading on Tuesday, reaching $63.12. 9,038,414 shares of the stock were exchanged, compared to its average volume of 18,797,486. The company has a 50 day simple moving average of $68.56 and a 200-day simple moving average of $71.06. The stock has a market capitalization of $131.89 billion, a P/E ratio of 101.81, a P/E/G ratio of 1.41 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies has a 1 year low of $40.09 and a 1 year 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). The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Analysts anticipate that Uber Technologies will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tony West sold 89,234 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the transaction, the insider now directly owns 124,945 shares of the company’s stock, valued at approximately $8,518,750.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. Insiders sold a total of 1,135,984 shares of company stock valued at $78,213,297 in the last ninety days. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Uber Technologies by 735.5% during the fourth quarter. Blue Trust Inc. now owns 777 shares of the ride-sharing company’s stock valued at $48,000 after purchasing an additional 684 shares during the period. Fifth Third Bancorp grew its stake in Uber Technologies by 54.3% during the fourth quarter. Fifth Third Bancorp now owns 68,894 shares of the ride-sharing company’s stock worth $4,242,000 after buying an additional 24,247 shares in the last quarter. Essex Savings Bank grew its stake in Uber Technologies by 8.9% during the fourth quarter. Essex Savings Bank now owns 6,306 shares of the ride-sharing company’s stock worth $388,000 after buying an additional 516 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new stake in Uber Technologies during the fourth quarter worth about $203,000. Finally, Drive Wealth Management LLC raised its holdings in Uber Technologies by 3.6% in the 4th quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock valued at $289,000 after buying an additional 163 shares during the last quarter. 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.