Uber Technologies’ (UBER) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Uber Technologies (NYSE:UBER)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price objective on the ride-sharing company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 47.47% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Loop Capital increased their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Bank of America raised their target price on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 31st. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $95.00 target price on shares of Uber Technologies in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Price Performance

NYSE:UBER opened at $61.03 on Wednesday. The firm’s fifty day moving average is $72.95 and its two-hundred day moving average is $71.37. The firm has a market cap of $128.51 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies has a one year low of $54.84 and a one year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period last year, the company earned $0.10 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts expect that Uber Technologies will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares during the last quarter. Edgewood Management LLC lifted its position in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. AMF Tjanstepension AB purchased a new position in shares of Uber Technologies in the 3rd quarter valued at approximately $163,468,000. Janus Henderson Group PLC increased its holdings in shares of Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares during the period. Finally, Samlyn Capital LLC acquired a new stake in shares of Uber Technologies during the second quarter worth $134,987,000. 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.