Uber Technologies (NYSE:UBER) Lowered to “Neutral” Rating by Wedbush

Uber Technologies (NYSE:UBER) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. They presently have a $85.00 price objective on the ride-sharing company’s stock, up from their previous price objective of $80.00. Wedbush’s price target suggests a potential upside of 2.91% from the stock’s current price.

Several other brokerages have also recently commented on UBER. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a research note on Monday, May 5th. TD Cowen lowered their price objective on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. DA Davidson upped their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, KeyCorp dropped their price target on Uber Technologies from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.69.

Uber Technologies Trading Up 0.4 %

Shares of UBER stock opened at $82.60 on Thursday. The stock has a market capitalization of $172.78 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. The company’s fifty day simple moving average is $74.72 and its two-hundred day simple moving average is $71.59. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. As a group, analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares in the company, valued at $1,790,355. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,904 shares of company stock worth $6,027,619. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently bought and sold shares of the company. Altfest L J & Co. Inc. bought a new stake in shares of Uber Technologies during the first quarter valued at approximately $751,000. Monetta Financial Services Inc. bought a new stake in shares of Uber Technologies during the 1st quarter valued at $1,078,000. Charles Schwab Investment Management Inc. grew its position in shares of Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after buying an additional 394,157 shares during the period. Coign Capital Advisors LLC increased its stake in shares of Uber Technologies by 14.2% in the 1st quarter. Coign Capital Advisors LLC now owns 7,917 shares of the ride-sharing company’s stock worth $577,000 after acquiring an additional 984 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Uber Technologies during the 1st quarter valued at about $15,650,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Company Profile

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.