Uber Technologies’ (UBER) Outperform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $92.00 price objective on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. Truist Financial raised their price objective on shares of Uber Technologies from $88.00 to $99.00 and gave the company a buy rating in a research report on Monday, October 7th. Raymond James began coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They issued a strong-buy rating and a $90.00 price target for the company. Wells Fargo & Company reaffirmed an overweight rating and set a $97.00 price objective on shares of Uber Technologies in a report on Friday, September 13th. Roth Mkm lifted their target price on Uber Technologies from $89.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley boosted their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $88.11.

Uber Technologies Stock Performance

NYSE UBER opened at $84.96 on Friday. Uber Technologies has a twelve month low of $40.09 and a twelve month high of $87.00. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market cap of $177.53 billion, a P/E ratio of 137.03, a PEG ratio of 1.35 and a beta of 1.33. The company’s 50-day simple moving average is $73.18 and its 200 day simple moving average is $70.51.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, research analysts forecast that Uber Technologies will post 1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in shares of Uber Technologies by 34.0% during the third quarter. Creative Planning now owns 195,163 shares of the ride-sharing company’s stock worth $14,668,000 after buying an additional 49,491 shares in the last quarter. Wesbanco Bank Inc. raised its stake in Uber Technologies by 4.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 156,158 shares of the ride-sharing company’s stock worth $11,737,000 after purchasing an additional 6,234 shares in the last quarter. CX Institutional boosted its holdings in Uber Technologies by 193.0% in the 3rd quarter. CX Institutional now owns 8,957 shares of the ride-sharing company’s stock valued at $673,000 after purchasing an additional 5,900 shares during the period. Grove Bank & Trust grew its position in shares of Uber Technologies by 58.1% during the 3rd quarter. Grove Bank & Trust now owns 8,184 shares of the ride-sharing company’s stock worth $615,000 after purchasing an additional 3,009 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Uber Technologies during the third quarter worth approximately $277,000. 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.