Uber Technologies’ (UBER) Overweight Rating Reaffirmed at Cantor Fitzgerald

Uber Technologies (NYSE:UBER)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $90.00 price target on the ride-sharing company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 21.11% from the company’s previous close.

A number of other brokerages have also recently commented on UBER. Melius Research initiated coverage on Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 target price for the company. Piper Sandler raised their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday, June 5th. Citigroup lifted their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Price Performance

NYSE UBER traded up $0.37 on Monday, hitting $74.31. The company had a trading volume of 2,121,485 shares, compared to its average volume of 18,176,924. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $69.60 and its 200-day moving average price is $70.66. The company has a market capitalization of $155.27 billion, a PE ratio of 119.85, a PEG ratio of 1.27 and a beta of 1.33. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The business 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 company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, analysts predict that Uber Technologies will post 1.06 earnings per share for the current year.

Insider Transactions at Uber Technologies

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

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. boosted its position in shares of Uber Technologies by 59.2% in the second quarter. Centaurus Financial Inc. now owns 14,266 shares of the ride-sharing company’s stock worth $1,037,000 after buying an additional 5,307 shares during the period. Anchor Investment Management LLC grew its stake in Uber Technologies by 2.5% during the 2nd quarter. Anchor Investment Management LLC now owns 30,963 shares of the ride-sharing company’s stock valued at $2,250,000 after acquiring an additional 748 shares in the last quarter. University of Texas Texas AM Investment Management Co. increased its holdings in shares of Uber Technologies by 31.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 30,634 shares of the ride-sharing company’s stock valued at $2,226,000 after purchasing an additional 7,399 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Uber Technologies by 2.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 21,582 shares of the ride-sharing company’s stock valued at $1,569,000 after purchasing an additional 578 shares during the period. Finally, Lazari Capital Management Inc. lifted its position in shares of Uber Technologies by 0.5% in the second quarter. Lazari Capital Management Inc. now owns 200,515 shares of the ride-sharing company’s stock worth $14,573,000 after purchasing an additional 915 shares in the last quarter. 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.