Needham & Company LLC Reiterates “Buy” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s target price suggests a potential upside of 32.20% from the company’s previous close.

Other research analysts have also issued research reports about the company. JMP Securities lowered Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Thursday, January 2nd. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. DA Davidson raised 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 set a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Finally, Jefferies Financial Group upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Stock Down 1.0 %

Shares of Uber Technologies stock opened at $68.08 on Monday. The stock’s 50-day moving average is $65.83 and its 200 day moving average is $70.19. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The firm has a market cap of $143.35 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced 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 company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Equities research analysts anticipate that Uber Technologies will post 1.86 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of Uber Technologies during the 4th quarter valued at about $166,072,000. Edgewood Management LLC raised its holdings in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Uber Technologies in the 3rd quarter worth approximately $163,468,000. Institutional investors own 80.24% of the company’s stock.

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.