Uber Technologies (NYSE:UBER) Earns Outperform Rating from Royal Bank of Canada

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $80.00 price objective on the ride-sharing company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.27% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Tigress Financial boosted their target price on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, April 19th. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a report on Tuesday, July 30th. UBS Group reduced their target price on Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Moffett Nathanson restated a “buy” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Thursday, April 11th. Finally, Truist Financial upped their price objective on Uber Technologies from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.26.

Uber Technologies Stock Up 4.3 %

NYSE:UBER traded up $2.77 on Wednesday, hitting $67.64. The stock had a trading volume of 17,625,687 shares, compared to its average volume of 19,205,568. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average is $68.28 and its 200 day moving average is $70.98. The company has a market cap of $141.34 billion, a PE ratio of 109.48, a P/E/G ratio of 1.32 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (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 the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. On average, equities research analysts expect that Uber Technologies will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony West sold 18,750 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the transaction, the insider now directly owns 206,338 shares in the company, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold 1,135,984 shares of company stock worth $78,213,297 in the last ninety days. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the period. Capital World Investors lifted its holdings in shares of Uber Technologies by 0.7% in the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after purchasing an additional 283,802 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Finally, Norges Bank bought a new stake in Uber Technologies during the fourth quarter worth about $1,415,778,000. 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.