Needham & Company LLC Reaffirms Buy Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s price target points to a potential upside of 28.51% from the company’s current price.

Several other equities analysts have also recently commented on UBER. Tigress Financial lifted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research report on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Truist Financial dropped their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Wolfe Research lifted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Seven 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.19.

Uber Technologies Stock Performance

Shares of UBER opened at $70.04 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average of $65.31 and a 200-day moving average of $70.07. The company has a market cap of $147.47 billion, a PE ratio of 34.84, a P/E/G ratio of 0.77 and a beta of 1.39. Uber Technologies has a one year low of $54.84 and a one year high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. On average, equities research analysts predict that Uber Technologies will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $2,025,162.00. Following the sale, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in the company. CENTRAL TRUST Co boosted its holdings in Uber Technologies by 12.3% in the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after purchasing an additional 127 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Uber Technologies by 2.1% in the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after buying an additional 131 shares during the last quarter. DT Investment Partners LLC grew its position in Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after buying an additional 145 shares during the period. Jmac Enterprises LLC increased its holdings in Uber Technologies by 2.1% during the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after buying an additional 150 shares during the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.