Uber Technologies’ (UBER) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Uber Technologies (NYSE:UBER) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $109.00 target price on the ride-sharing company’s stock.

A number of other equities research analysts have also issued reports on the stock. Susquehanna upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Raymond James Financial upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Piper Sandler upped their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Mizuho began coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $106.56.

Uber Technologies Stock Performance

NYSE UBER opened at $94.89 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock’s fifty day moving average is $95.62 and its two-hundred day moving average is $90.93. The firm has a market capitalization of $197.88 billion, a P/E ratio of 16.16 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 604,946 shares of company stock valued at $58,950,116. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Foster Group Inc. raised its holdings in Uber Technologies by 3.3% in the third quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock valued at $330,000 after acquiring an additional 107 shares in the last quarter. Sage Rhino Capital LLC lifted its position in shares of Uber Technologies by 4.2% during the 3rd quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock worth $268,000 after purchasing an additional 110 shares during the last quarter. Quent Capital LLC lifted its position in shares of Uber Technologies by 3.3% during the 3rd quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock worth $343,000 after purchasing an additional 111 shares during the last quarter. Emergent Wealth Advisors LLC lifted its position in shares of Uber Technologies by 0.7% during the 3rd quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock worth $1,701,000 after purchasing an additional 114 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC lifted its position in shares of Uber Technologies by 1.3% during the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 8,975 shares of the ride-sharing company’s stock worth $879,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.