Uber Technologies’ (UBER) Buy Rating Reaffirmed at DA Davidson

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a research note issued on Thursday, Benzinga reports. They presently have a $82.00 target price on the ride-sharing company’s stock. DA Davidson’s price objective would indicate a potential upside of 1.62% from the company’s current price.

Several other research firms also recently weighed in on UBER. Loop Capital increased their price target on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. Melius Research began coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target on the stock. Wolfe Research initiated coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded down $1.21 during mid-day trading on Thursday, hitting $80.69. 17,667,299 shares of the stock were exchanged, compared to its average volume of 18,016,451. The company has a market capitalization of $169.52 billion, a P/E ratio of 88.67, a P/E/G ratio of 1.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50-day simple moving average of $73.87 and a 200 day simple moving average of $70.63. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Sell-side analysts anticipate that Uber Technologies will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently modified their holdings of UBER. Vanguard Group Inc. boosted its position 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 worth $13,184,793,000 after purchasing an additional 3,623,951 shares in the last quarter. Capital Research Global Investors raised its stake in Uber Technologies by 8.2% during 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 buying an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $2,804,437,000 after acquiring an additional 9,996,508 shares in the last quarter. GQG Partners LLC grew its stake in shares of Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after acquiring an additional 9,541,366 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after acquiring an additional 237,976 shares in the last quarter. 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.