Uber Technologies (NYSE:UBER) Upgraded at Arete Research

Arete Research upgraded shares of Uber Technologies (NYSE:UBER) from a hold rating to a buy rating in a research report report published on Wednesday, Marketbeat reports. The brokerage currently has $125.00 price objective on the ride-sharing company’s stock, up from their prior price objective of $82.00.

A number of other equities research analysts have also recently commented on UBER. Cowen reissued a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Truist Financial lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. TD Cowen boosted their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Piper Sandler set a $107.00 price objective on shares of Uber Technologies in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $109.19.

Uber Technologies Trading Up 0.3%

UBER opened at $91.25 on Wednesday. The company has a fifty day moving average price of $92.80 and a two-hundred day moving average price of $91.81. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a market cap of $189.60 billion, a P/E ratio of 11.73 and a beta of 1.19. 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 earnings results 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. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same period last year, the business posted $1.20 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the completion of the transaction, the insider directly owned 174,135 shares of the company’s stock, valued at $16,037,833.50. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 567,625 shares of company stock worth $55,385,660. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC bought a new position in Uber Technologies during the third quarter valued at about $25,000. Kilter Group LLC purchased a new position in Uber Technologies in the second quarter valued at about $26,000. Westend Capital Management LLC bought a new position in shares of Uber Technologies during the 3rd quarter valued at approximately $27,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $28,000. Finally, Truvestments Capital LLC raised its holdings 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 worth $30,000 after purchasing an additional 339 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.