Uber Technologies (NYSE:UBER) Earns Buy Rating from Needham & Company LLC

Uber Technologies (NYSE:UBERGet Free Report)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $90.00 target price on the ride-sharing company’s stock, up from their prior target price of $71.00. Needham & Company LLC’s price target points to a potential upside of 27.21% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Uber Technologies in a report on Tuesday, November 7th. Bank of America lifted their price objective on Uber Technologies from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Roth Mkm lifted their price objective on Uber Technologies from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Wells Fargo & Company boosted their price target on Uber Technologies from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Finally, KeyCorp boosted their price target on Uber Technologies from $70.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.76.

Check Out Our Latest Analysis on UBER

Uber Technologies Stock Performance

Shares of UBER stock opened at $70.75 on Wednesday. The stock has a fifty day moving average of $62.39 and a 200 day moving average of $52.32. Uber Technologies has a 52 week low of $29.22 and a 52 week high of $71.90. The firm has a market capitalization of $145.59 billion, a price-to-earnings ratio of 144.22 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.91.

Uber Technologies (NYSE:UBERGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.16 by $0.50. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. Uber Technologies had a return on equity of 11.74% and a net margin of 2.93%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. As a group, research analysts expect that Uber Technologies will post 0.37 earnings per share for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 18,850 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $53.01, for a total transaction of $999,238.50. Following the transaction, the insider now owns 109,009 shares of the company’s stock, valued at approximately $5,778,567.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Tony West sold 18,750 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $51.40, for a total transaction of $963,750.00. Following the completion of the sale, the insider now directly owns 181,339 shares in the company, valued at approximately $9,320,824.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 18,850 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $53.01, for a total value of $999,238.50. Following the sale, the insider now owns 109,009 shares of the company’s stock, valued at $5,778,567.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,600 shares of company stock valued at $7,246,989. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Wealth LLC grew its holdings in Uber Technologies by 6.8% during the third quarter. NewEdge Wealth LLC now owns 329,341 shares of the ride-sharing company’s stock worth $15,146,000 after acquiring an additional 21,042 shares during the period. Chilton Investment Co. Inc. acquired a new stake in Uber Technologies during the second quarter worth about $209,000. Itau Unibanco Holding S.A. grew its holdings in Uber Technologies by 1,425.2% during the second quarter. Itau Unibanco Holding S.A. now owns 49,842 shares of the ride-sharing company’s stock worth $2,152,000 after acquiring an additional 46,574 shares during the period. Whittier Trust Co. grew its holdings in Uber Technologies by 3.1% during the third quarter. Whittier Trust Co. now owns 16,102 shares of the ride-sharing company’s stock worth $741,000 after acquiring an additional 484 shares during the period. Finally, Cornerstone Wealth Group LLC acquired a new stake in Uber Technologies during the third quarter worth about $2,590,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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