Uber Technologies (NYSE:UBER) Given “Buy” Rating at Loop Capital

Loop Capital reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Loop Capital currently has a $105.00 target price on the ride-sharing company’s stock, up from their previous target price of $89.00.

Several other brokerages have also recently commented on UBER. Truist Financial boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, May 7th. Wedbush cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $85.00 in a research note on Thursday, May 8th. Arete Research raised shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Finally, TD Cowen reduced their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $93.91.

Uber Technologies Price Performance

UBER opened at $87.82 on Wednesday. The company has a market capitalization of $183.64 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $78.17 and a 200-day moving average price of $72.52. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $93.60.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Uber Technologies’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.32) earnings per share. Equities analysts expect that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity

In related news, insider Tony West sold 23,404 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,788 shares of company stock valued at $6,517,070. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Grassi Investment Management raised its holdings in Uber Technologies by 0.5% during the 4th quarter. Grassi Investment Management now owns 97,925 shares of the ride-sharing company’s stock valued at $5,907,000 after buying an additional 500 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Uber Technologies by 6.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 3,923 shares of the ride-sharing company’s stock valued at $237,000 after buying an additional 241 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Uber Technologies by 47.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 7,921 shares of the ride-sharing company’s stock valued at $478,000 after buying an additional 2,541 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Uber Technologies by 3.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,231 shares of the ride-sharing company’s stock worth $436,000 after purchasing an additional 237 shares in the last quarter. Finally, Pure Financial Advisors LLC bought a new position in Uber Technologies in the 4th quarter worth $321,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

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.