The Goldman Sachs Group Reaffirms “Buy” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reiterated by research analysts at The Goldman Sachs Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $96.00 target price on the ride-sharing company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 48.63% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. DA Davidson upped their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Thursday, October 31st. Raymond James assumed coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target on the stock. Finally, KeyCorp dropped their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Six research 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 company. According to data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Stock Up 2.2 %

Shares of UBER opened at $64.59 on Thursday. 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 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50 day simple moving average of $67.98 and a two-hundred day simple moving average of $70.69. The firm has a market cap of $136.01 billion, a P/E ratio of 32.13, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released 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. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, analysts forecast that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC bought a new stake in shares of Uber Technologies during the second quarter worth $278,000. Founders Financial Securities LLC increased its stake in Uber Technologies by 4.1% in the 2nd quarter. Founders Financial Securities LLC now owns 14,808 shares of the ride-sharing company’s stock worth $1,076,000 after buying an additional 582 shares during the period. Cozad Asset Management Inc. lifted its holdings in Uber Technologies by 8.4% during the 2nd quarter. Cozad Asset Management Inc. now owns 6,617 shares of the ride-sharing company’s stock valued at $481,000 after buying an additional 510 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Uber Technologies by 12.8% in the second quarter. Foundations Investment Advisors LLC now owns 6,262 shares of the ride-sharing company’s stock valued at $455,000 after purchasing an additional 713 shares during the period. Finally, Larson Financial Group LLC increased its holdings in Uber Technologies by 53.6% during the 2nd quarter. Larson Financial Group LLC now owns 2,378 shares of the ride-sharing company’s stock worth $173,000 after purchasing an additional 830 shares during the period. 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.