Uber Technologies (NYSE:UBER) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Uber Technologies (NYSE:UBER) from a hold rating to a buy rating in a report published on Sunday morning.

Several other equities research analysts also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday, May 7th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Bank of America lifted their price objective on Uber Technologies from $96.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a report on Monday, May 5th. Finally, Arete Research upgraded Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.39.

Uber Technologies Trading Down 2.1%

Uber Technologies stock opened at $83.81 on Friday. The stock has a 50-day moving average price of $82.19 and a 200 day moving average price of $74.00. 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 has a 52 week low of $54.84 and a 52 week high of $93.60. The stock has a market cap of $175.26 billion, a PE ratio of 18.38, a P/E/G ratio of 0.89 and a beta of 1.38.

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

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares of the company’s stock, valued at $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,441,071 in the last 90 days. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nova Wealth Management Inc. boosted its position in Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 125 shares during the period. Navalign LLC boosted its position in Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after acquiring an additional 126 shares during the period. Grove Bank & Trust boosted its position in Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after acquiring an additional 133 shares during the period. Forum Financial Management LP boosted its position in Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after acquiring an additional 136 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its position in Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds 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.