Uber Technologies’ (UBER) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Friday,Benzinga reports. Wedbush currently has a $85.00 price objective on the ride-sharing company’s stock.

A number of other brokerages have also weighed in on UBER. Bank of America increased their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Loop Capital reiterated a “buy” rating and set a $105.00 target price (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Barclays increased their target price on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. UBS Group increased their target price on shares of Uber Technologies from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Ten research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $100.71.

Uber Technologies Stock Performance

NYSE UBER opened at $86.98 on Friday. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $97.71. The company has a 50-day simple moving average of $89.12 and a 200 day simple moving average of $80.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $181.89 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) earnings per share. On average, research analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the period. Capital Research Global Investors increased its stake in shares of Uber Technologies by 79.0% in 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 buying an additional 52,125,476 shares during the period. Capital World Investors increased its stake in shares of Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after buying an additional 2,792,039 shares during the period. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the first quarter worth $2,207,743,000. Finally, Kingstone Capital Partners Texas LLC increased its stake in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.