Uber Technologies (NYSE:UBER) Stock Rating Upgraded by Wall Street Zen

Uber Technologies (NYSE:UBER) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Other research analysts have also recently issued reports about the company. TD Cowen reduced their price target on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, May 15th. UBS Group upped their target price on Uber Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Citigroup upped their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, KGI Securities reaffirmed a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $94.39.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $85.10 on Friday. The company has a market capitalization of $177.95 billion, a PE ratio of 18.66, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The company has a 50-day simple moving average of $82.60 and a two-hundred day simple moving average of $74.09. Uber Technologies has a one year low of $54.84 and a one year high of $93.60.

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

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was 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 trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,384 shares of company stock worth $3,441,071. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Capital Research Global Investors grew its stake in Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC grew its stake in Uber Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after buying an additional 1,061,088 shares during the last quarter. Capital World Investors grew its stake in shares of Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. Finally, Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter valued at approximately $2,207,743,000. 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.