Uber Technologies (NYSE:UBER) Lowered to Market Perform Rating by JMP Securities

JMP Securities cut shares of Uber Technologies (NYSE:UBER) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat Ratings reports. They currently have $95.00 target price on the ride-sharing company’s stock.

Several other analysts also recently commented on the company. Bank of America increased their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Raymond James assumed coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective on the stock. Daiwa America downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price target on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Six investment 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. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $91.47.

Uber Technologies Price Performance

Shares of UBER opened at $63.17 on Thursday. The business’s fifty day moving average is $68.24 and its 200 day moving average is $70.73. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00. 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 has a market cap of $133.02 billion, a P/E ratio of 31.43, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UBER. Ascent Wealth Partners LLC bought a new position in shares of Uber Technologies in the 3rd quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky grew its position in Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new position in Uber Technologies in the third quarter worth $2,302,000. Brophy Wealth Management LLC bought a new position in Uber Technologies in the third quarter valued at $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Uber Technologies by 9.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after purchasing an additional 512,591 shares during 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.