Uber Technologies (NYSE:UBER) Stock Rating Reaffirmed by Royal Bank of Canada

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $80.00 target price on the ride-sharing company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 3.07% from the company’s current price.

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. Evercore ISI increased their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JMP Securities increased their price target on Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Raymond James began coverage on Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target for the company. Finally, Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $88.86.

Uber Technologies Trading Down 1.0 %

NYSE:UBER opened at $77.62 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $162.19 billion, a price-to-earnings ratio of 125.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33. Uber Technologies has a one year low of $40.09 and a one year high of $87.00. The business has a fifty day moving average price of $75.09 and a 200-day moving average price of $70.80.

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 the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. Sell-side analysts forecast that Uber Technologies will post 1.08 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of UBER. Wealth Enhancement Advisory Services LLC increased its holdings in Uber Technologies by 14.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 182,700 shares of the ride-sharing company’s stock valued at $14,066,000 after buying an additional 22,709 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Uber Technologies during the first quarter valued at approximately $246,000. Financial Management Professionals Inc. increased its holdings in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 202 shares during the period. Romano Brothers AND Company purchased a new position in Uber Technologies during the first quarter valued at approximately $243,000. Finally, Vicus Capital purchased a new position in Uber Technologies during the first quarter valued at approximately $327,000. 80.24% of the stock is owned by hedge funds and other 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.