Uber Technologies (NYSE:UBER) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Uber Technologies (NYSE:UBER) in a report issued on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the ride-sharing company’s stock.

Several other research firms have also recently commented on UBER. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Monday, October 7th. Evercore ISI lifted their price objective on Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Roth Mkm lifted their price objective on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $97.00 price objective on shares of Uber Technologies in a research note on Friday, September 13th. Finally, Melius initiated coverage on Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective for the company. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.22.

Uber Technologies Trading Up 1.7 %

UBER stock opened at $73.25 on Thursday. The business has a fifty day moving average price of $75.36 and a 200 day moving average price of $70.85. Uber Technologies has a fifty-two week low of $45.25 and a fifty-two week high of $87.00. The stock has a market capitalization of $153.89 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 1.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Analysts expect that Uber Technologies will post 1.1 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. increased its stake in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the period. WR Wealth Planners LLC increased its stake in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp bought a new position in Uber Technologies during the 1st quarter worth $32,000. MCF Advisors LLC increased its stake in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares during the period. Finally, Founders Capital Management acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at $33,000. 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.