Uber Technologies (NYSE:UBER) Now Covered by Analysts at Raymond James

Raymond James assumed coverage on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Tuesday, StockNewsAPI reports. The firm set a “strong-buy” rating and a $90.00 price target on the ride-sharing company’s stock. Raymond James’ target price would suggest a potential upside of 20.50% from the stock’s current price.

Several other research firms have also recently issued reports on UBER. JMP Securities boosted their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Citigroup raised their price objective on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Bank of America reiterated a “buy” rating and set a $88.00 target price on shares of Uber Technologies in a report on Friday, August 23rd. Loop Capital raised their price target on shares of Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Monday. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $87.67.

Uber Technologies Stock Up 1.0 %

UBER opened at $74.69 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $156.07 billion, a price-to-earnings ratio of 120.47, a PEG ratio of 1.27 and a beta of 1.33. Uber Technologies has a one year low of $40.09 and a one year high of $82.14. The business’s fifty day moving average is $69.65 and its two-hundred day moving average is $70.63.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. Analysts anticipate that Uber Technologies will post 1.06 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Uber Technologies by 34.8% during the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares in the last quarter. Edgewood Management LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $783,401,000. Price T Rowe Associates Inc. MD grew its position in Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC increased its stake in Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Uber Technologies by 28.4% during the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after buying an additional 8,164,816 shares during the period. 80.24% of the stock is owned by hedge funds and other 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.