Uber Technologies (NYSE:UBER) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Uber Technologies (NYSE:UBER) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $110.00 price objective on the ride-sharing company’s stock.

Several other brokerages have also recently issued reports on UBER. Loop Capital restated a “buy” rating and issued a $105.00 target price (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Bank of America upped their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 8th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, May 15th. Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Finally, Truist Financial upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Twelve investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.39.

Uber Technologies Stock Performance

NYSE:UBER opened at $86.53 on Wednesday. The company has a market cap of $180.94 billion, a P/E ratio of 18.98, a P/E/G ratio of 0.89 and a beta of 1.38. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $93.60. The company’s 50-day moving average price is $81.40 and its 200-day moving average price is $73.80. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS. On average, sell-side analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,384 shares of company stock valued at $4,872,471 in the last ninety days. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Capital Research Global Investors increased its holdings in shares of Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC raised its position in Uber Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares during the last quarter. Capital World Investors raised its position in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. Finally, Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies during the 1st quarter worth $2,207,743,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.