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

Uber Technologies (NYSE:UBER)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $80.00 price objective on the ride-sharing company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 24.03% from the company’s current price.

UBER has been the subject of several other research reports. Citizens Jmp downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Piper Sandler lowered their target price on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Daiwa America downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.67.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $64.50 on Thursday. The firm has a market capitalization of $135.82 billion, a P/E ratio of 32.09, a P/E/G ratio of 0.77 and a beta of 1.39. The firm’s 50-day moving average price is $65.46 and its 200-day moving average price is $70.11. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Equities research analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC increased its stake in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. Jennison Associates LLC raised its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after purchasing an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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.