Uber Technologies (NYSE:UBER) Rating Increased to Outperform at Raymond James

Uber Technologies (NYSE:UBERGet Rating) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a $38.00 price target on the ride-sharing company’s stock. Raymond James’ price objective would suggest a potential upside of 19.31% from the stock’s previous close.

UBER has been the topic of several other reports. Wolfe Research lowered their target price on shares of Uber Technologies from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Morgan Stanley lowered their target price on shares of Uber Technologies from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. KeyCorp started coverage on shares of Uber Technologies in a research report on Tuesday, July 12th. They set a “sector weight” rating on the stock. Oppenheimer lowered their target price on shares of Uber Technologies from $45.00 to $40.00 in a research report on Thursday, May 5th. Finally, Wells Fargo & Company reduced their price target on shares of Uber Technologies from $68.00 to $55.00 in a report on Thursday, May 5th. One equities research analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.63.

Uber Technologies Trading Up 5.5 %

Shares of Uber Technologies stock opened at $31.85 on Wednesday. Uber Technologies has a 52-week low of $19.90 and a 52-week high of $48.88. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $29.02. The firm has a market cap of $62.54 billion, a price-to-earnings ratio of -6.11 and a beta of 1.35.

Uber Technologies (NYSE:UBERGet Rating) last issued its earnings results on Tuesday, August 2nd. The ride-sharing company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.08). Uber Technologies had a negative return on equity of 62.32% and a negative net margin of 39.39%. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 105.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Uber Technologies will post -3.57 earnings per share for the current year.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Uber Technologies by 1.5% during the first quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock worth $3,202,889,000 after purchasing an additional 1,368,569 shares during the period. Jennison Associates LLC raised its stake in Uber Technologies by 23.6% during the fourth quarter. Jennison Associates LLC now owns 49,538,244 shares of the ride-sharing company’s stock worth $2,077,139,000 after purchasing an additional 9,449,743 shares during the period. Altimeter Capital Management LP raised its stake in Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after purchasing an additional 19,260,000 shares during the period. Fisher Asset Management LLC raised its stake in Uber Technologies by 57.1% during the first quarter. Fisher Asset Management LLC now owns 23,796,816 shares of the ride-sharing company’s stock worth $849,070,000 after purchasing an additional 8,647,468 shares during the period. Finally, Capital World Investors raised its stake in Uber Technologies by 18.5% during the first quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock worth $787,480,000 after purchasing an additional 3,443,554 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

About Uber Technologies

(Get Rating)

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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