Uber Technologies (NYSE:UBER) Given Buy Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $88.00 target price on the ride-sharing company’s stock.

Several other research analysts have also recently issued reports on UBER. DA Davidson upped their target price on shares of Uber Technologies from $81.00 to $82.00 and gave the company a buy rating in a report on Wednesday, August 7th. Oppenheimer reissued an outperform rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, June 5th. The Goldman Sachs Group raised their price target on Uber Technologies from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Melius Research began coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a hold rating and a $77.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $87.60.

Uber Technologies Stock Down 2.3 %

Uber Technologies stock opened at $69.60 on Friday. The stock’s fifty day moving average is $69.53 and its two-hundred day moving average is $71.26. The stock has a market cap of $146.23 billion, a PE ratio of 112.26, a P/E/G ratio of 1.28 and a beta of 1.33. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion for 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. On average, sell-side analysts expect that Uber Technologies will post 1.05 EPS for the current fiscal year.

Insider Activity

In related news, insider Tony West sold 28,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the sale, the insider now directly owns 96,945 shares in the company, valued at approximately $6,851,103.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now directly owns 96,945 shares in the company, valued at approximately $6,851,103.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value 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 disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. GHP Investment Advisors Inc. boosted its stake in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 202 shares during the period. WR Wealth Planners LLC boosted its position in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Uber Technologies in the 1st quarter worth approximately $32,000. Finally, MCF Advisors LLC raised its holdings in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other 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.