Cantor Fitzgerald Reiterates “Overweight” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $90.00 price objective on the ride-sharing company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 16.22% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Bank of America reaffirmed a “buy” rating and set a $88.00 price objective on shares of Uber Technologies in a research report on Friday, August 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, June 5th. DA Davidson increased their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Roth Mkm boosted their target price on Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler increased their price target on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Four 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 MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $87.67.

Uber Technologies Stock Up 3.7 %

Shares of NYSE:UBER opened at $77.44 on Monday. The business has a fifty day simple moving average of $69.71 and a 200 day simple moving average of $70.62. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $82.14. The firm has a market cap of $161.81 billion, a P/E ratio of 124.90, a P/E/G ratio of 1.27 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts predict that Uber Technologies will post 1.06 earnings per share for the current year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Vanguard Group Inc. boosted its stake in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after buying an additional 3,623,951 shares in the last quarter. Capital World Investors grew its holdings in shares of Uber Technologies by 0.7% during the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after purchasing an additional 283,802 shares during the last quarter. Capital Research Global Investors raised its position in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. Finally, GQG Partners LLC boosted its position in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares during the period. 80.24% of the stock is currently owned by hedge funds and other 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.