Uber Technologies’ (UBER) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Uber Technologies (NYSE:UBER) in a report released on Monday morning,Benzinga reports. The firm currently has a $90.00 price target on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. KeyCorp decreased their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 31st. DA Davidson increased their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Tigress Financial boosted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Price Performance

Shares of UBER stock opened at $66.72 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s fifty day simple moving average is $65.83 and its 200 day simple moving average is $70.19. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The firm has a market cap of $140.50 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, analysts expect that Uber Technologies will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Geode Capital Management LLC raised its holdings in shares of Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares during the last quarter. Edgewood Management LLC increased its stake in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the last quarter. 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 valued at $1,596,086,000 after buying an additional 7,137,512 shares during the last quarter. Janus Henderson Group PLC lifted its position in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after buying an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after buying an additional 1,601,747 shares during 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.