Melius Initiates Coverage on Uber Technologies (NYSE:UBER)

Investment analysts at Melius began coverage on shares of Uber Technologies (NYSE:UBER) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “hold” rating and a $77.00 price target on the ride-sharing company’s stock. Melius’ price objective points to a potential upside of 14.04% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday. They issued a “hold” rating and a $77.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $89.00 target price (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Truist Financial increased their target price on shares of Uber Technologies from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Moffett Nathanson reissued a “buy” rating and issued a $92.00 target price on shares of Uber Technologies in a report on Thursday, April 11th. Finally, TD Cowen reduced their target price on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $85.97.

Uber Technologies Price Performance

NYSE UBER opened at $67.52 on Monday. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $82.14. The firm has a market capitalization of $141.08 billion, a P/E ratio of 108.90, a PEG ratio of 1.48 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $68.62 and a 200-day moving average price of $70.96.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the previous year, the company earned ($0.08) EPS. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies will post 0.85 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Uber Technologies news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the sale, the insider now owns 206,338 shares in the company, valued at $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,135,984 shares of company stock worth $78,213,297. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares in the last quarter. Capital World Investors boosted its holdings in Uber Technologies by 0.7% in the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after acquiring an additional 283,802 shares in the last quarter. Capital Research Global Investors boosted its holdings in Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Uber Technologies during the fourth quarter worth about $1,415,778,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.