Uber Technologies (NYSE:UBER) Given Buy Rating at Needham & Company LLC

Uber Technologies (NYSE:UBERGet Free Report)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $109.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s price objective points to a potential upside of 34.80% from the company’s current price.

UBER has been the subject of several other reports. KeyCorp decreased their price target on shares of Uber Technologies from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Stifel Nicolaus decreased their target price on shares of Uber Technologies from $122.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Royal Bank Of Canada set a $110.00 price target on shares of Uber Technologies in a report on Wednesday, November 5th. UBS Group set a $111.00 price target on Uber Technologies in a research report on Monday. Finally, Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Uber Technologies in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $107.19.

View Our Latest Stock Analysis on Uber Technologies

Uber Technologies Price Performance

UBER opened at $80.86 on Tuesday. The company has a market capitalization of $168.01 billion, a price-to-earnings ratio of 10.39 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies has a 12-month low of $60.63 and a 12-month high of $101.99. The business’s fifty day simple moving average is $83.89 and its 200-day simple moving average is $90.14.

Uber Technologies (NYSE:UBERGet Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. On average, equities research analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the transaction, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 3,125 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $83.50, for a total value of $260,937.50. Following the transaction, the insider owned 176,584 shares in the company, valued at $14,744,764. This trade represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,875 shares of company stock worth $1,319,130 in the last ninety days. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 192,499,602 shares of the ride-sharing company’s stock worth $15,729,142,000 after acquiring an additional 1,670,761 shares during the period. Geode Capital Management LLC increased its position in Uber Technologies by 2.6% during the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after purchasing an additional 1,168,288 shares during the last quarter. Norges Bank purchased a new position in Uber Technologies during the second quarter worth about $2,348,319,000. Northern Trust Corp raised its stake in Uber Technologies by 1.5% during the third quarter. Northern Trust Corp now owns 19,509,042 shares of the ride-sharing company’s stock worth $1,911,301,000 after purchasing an additional 297,132 shares during the period. Finally, Capital World Investors boosted its holdings in Uber Technologies by 1.1% in the 3rd quarter. Capital World Investors now owns 17,016,467 shares of the ride-sharing company’s stock valued at $1,667,121,000 after purchasing an additional 182,976 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Key Headlines Impacting Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

Uber Technologies Company Profile

(Get Free Report)

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

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