Uber Technologies (NYSE:UBER) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Monday,Benzinga reports. Royal Bank of Canada currently has a $82.00 price objective on the ride-sharing company’s stock.

Several other equities research analysts also recently issued reports on UBER. TD Cowen cut their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, April 9th. Truist Financial upped their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. dropped their target price on Uber Technologies from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.81.

Uber Technologies Stock Up 1.3 %

Shares of Uber Technologies stock opened at $85.40 on Monday. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market capitalization of $178.64 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The business has a 50-day moving average of $74.02 and a two-hundred day moving average of $71.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Buying and Selling

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now owns 86,973 shares in the company, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 77,154 shares of company stock valued at $5,793,869. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after acquiring an additional 2,364,525 shares during the last quarter. Capital Research Global Investors raised its position in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares during the last quarter. Capital World Investors boosted its position in shares of Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Jennison Associates LLC increased its stake in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Institutional investors and hedge funds 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.