Needham & Company LLC Reaffirms Buy Rating for Uber Technologies (NYSE:UBER)

Needham & Company LLC reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research report sent to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $90.00 price objective on the ride-sharing company’s stock.

A number of other brokerages have also issued reports on UBER. Wells Fargo & Company reiterated an “overweight” rating and issued a $97.00 price target on shares of Uber Technologies in a research note on Friday, September 13th. Raymond James began coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective for the company. Jefferies Financial Group lifted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their price objective on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets restated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a report on Friday, October 11th. Six equities 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.46.

Uber Technologies Stock Performance

NYSE UBER traded up $1.41 during trading hours on Thursday, hitting $73.46. 9,333,570 shares of the company’s stock traded hands, compared to its average volume of 17,995,225. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies has a 52 week low of $45.25 and a 52 week high of $87.00. The firm has a market capitalization of $154.34 billion, a P/E ratio of 80.73, a P/E/G ratio of 1.36 and a beta of 1.33. The business’s fifty day moving average price is $75.38 and its two-hundred day moving average price is $70.88.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data 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 17.06% and a net margin of 5.02%. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities research analysts predict that Uber Technologies will post 1.1 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

A number of hedge funds have recently modified their holdings of UBER. Vanguard Group Inc. grew its position in Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the period. Capital Research Global Investors increased its stake in shares of 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 valued at $3,075,562,000 after purchasing an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Uber Technologies by 37.8% during 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 in the last quarter. GQG Partners LLC lifted its position in shares of Uber Technologies by 74.1% during the 1st 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 in the last quarter. Finally, Legal & General Group Plc increased its holdings in Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after acquiring an additional 237,976 shares in the last quarter. Hedge funds and other institutional investors 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.