Uber Technologies (NYSE:UBER) Cut to “Hold” at Erste Group Bank

Erste Group Bank lowered shares of Uber Technologies (NYSE:UBER) from a buy rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat reports.

Several other equities research analysts also recently weighed in on the company. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Uber Technologies in a research note on Monday, December 1st. Piper Sandler set a $107.00 price target on Uber Technologies in a report on Wednesday, November 5th. DA Davidson raised their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $108.74.

Uber Technologies Trading Up 0.3%

Shares of Uber Technologies stock opened at $91.25 on Friday. The firm’s 50 day moving average is $92.80 and its 200 day moving average is $91.84. The firm has a market capitalization of $189.60 billion, a PE ratio of 11.73 and a beta of 1.19. Uber Technologies has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. Equities research analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 567,625 shares of company stock worth $55,385,660 over the last quarter. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Measured Wealth Private Client Group LLC bought a new position in Uber Technologies during the third quarter worth $25,000. Kilter Group LLC acquired a new position in shares of Uber Technologies during the second quarter valued at about $26,000. Westend Capital Management LLC acquired a new position in shares of Uber Technologies during the third quarter valued at about $27,000. West Oak Capital LLC bought a new position in shares of Uber Technologies during the 2nd quarter worth about $28,000. Finally, Truvestments Capital LLC grew its stake in shares of Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 339 shares during the period. 80.24% of the stock is currently owned by 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.