Lake Street Capital Upgrades Uber Technologies (NYSE:UBER) to Buy

Lake Street Capital upgraded shares of Uber Technologies (NYSE:UBER) from a hold rating to a buy rating in a research note published on Monday, LiveTradingNews reports.

Several other brokerages have also recently issued reports on UBER. Deutsche Bank reaffirmed a buy rating and set a $54.00 target price (up previously from $50.00) on shares of Uber Technologies in a research report on Friday, February 7th. Goldman Sachs Group increased their target price on Uber Technologies from $44.00 to $49.00 and gave the company a buy rating in a research report on Friday, February 7th. Sanford C. Bernstein assumed coverage on Uber Technologies in a research report on Thursday, January 9th. They set an outperform rating and a $40.00 target price on the stock. Raymond James reaffirmed a buy rating and set a $54.00 target price on shares of Uber Technologies in a research report on Monday, December 16th. Finally, Mizuho increased their target price on Uber Technologies from $45.00 to $50.00 and gave the company a positive rating in a research report on Friday, February 7th. Ten equities research analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $48.96.

Shares of NYSE UBER opened at $40.09 on Monday. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $68.25 billion and a PE ratio of -4.83. The stock’s fifty day simple moving average is $35.24 and its two-hundred day simple moving average is $32.84. Uber Technologies has a 12-month low of $25.58 and a 12-month high of $47.08.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, February 6th. The ride-sharing company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.04. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Uber Technologies had a negative return on equity of 109.84% and a negative net margin of 60.13%. The business’s revenue for the quarter was up 36.8% compared to the same quarter last year. On average, equities analysts predict that Uber Technologies will post -2.28 earnings per share for the current fiscal year.

In related news, Director Travis Cordell Kalanick sold 2,121,290 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.77, for a total value of $56,786,933.30. Following the completion of the transaction, the director now owns 71,024,087 shares in the company, valued at approximately $1,901,314,808.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manik Gupta sold 1,657 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $27.04, for a total value of $44,805.28. Following the completion of the transaction, the insider now owns 453,443 shares of the company’s stock, valued at approximately $12,261,098.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,036,326 shares of company stock valued at $1,132,372,263.

A number of hedge funds have recently modified their holdings of UBER. CWM LLC purchased a new position in Uber Technologies in the 3rd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in Uber Technologies in the 3rd quarter worth $30,000. Nisa Investment Advisors LLC purchased a new position in Uber Technologies in the 3rd quarter worth $30,000. Atticus Wealth Management LLC purchased a new position in Uber Technologies in the 4th quarter worth $30,000. Finally, Simon Quick Advisors LLC purchased a new position in Uber Technologies in the 4th quarter worth $31,000. Institutional investors own 45.26% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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