Uber Technologies’ (UBER) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $90.00 price objective on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, December 18th. UBS Group raised their target price on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Tigress Financial upped their price target on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada raised their price objective on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.08.

Uber Technologies Stock Down 2.0 %

Shares of Uber Technologies stock opened at $66.72 on Monday. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00. The firm has a market capitalization of $140.50 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $65.83 and its 200-day moving average is $70.19.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies will post 1.86 earnings per share for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in UBER. Geode Capital Management LLC boosted its holdings in Uber Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares during the period. Edgewood Management LLC lifted its stake in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the period. Jennison Associates LLC grew its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after buying an additional 7,137,512 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Uber Technologies by 18.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after acquiring an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares in the last quarter. 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.