Uber Technologies (NYSE:UBER) Research Coverage Started at Benchmark

Benchmark assumed coverage on shares of Uber Technologies (NYSE:UBER) in a research note released on Friday, Marketbeat reports. The firm issued a hold rating on the ride-sharing company’s stock.

A number of other research analysts have also commented on the stock. Bank of America boosted their price target on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Raymond James assumed coverage on Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a research report on Wednesday, August 7th. Loop Capital upped their price objective on shares of Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Monday, October 7th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.86.

Uber Technologies Stock Performance

Shares of UBER opened at $77.62 on Friday. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $87.00. The stock’s 50-day simple moving average is $75.09 and its 200 day simple moving average is $70.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The stock 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 (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. Research analysts forecast that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated 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 sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares in the last quarter. Capital Research Global Investors grew its stake in Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC lifted its position in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Uber Technologies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after buying an additional 237,976 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

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.