Uber Technologies (NYSE:UBER) Raised to Buy at Wall Street Zen

Uber Technologies (NYSE:UBER) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

UBER has been the subject of several other reports. Raymond James raised their price target on Uber Technologies from $95.00 to $100.00 and gave the company a “strong-buy” rating in a report on Thursday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. DA Davidson raised their price target on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.39.

Uber Technologies Trading Up 1.4%

Shares of UBER stock opened at $85.10 on Friday. The business’s 50 day moving average is $82.60 and its two-hundred day moving average is $74.09. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $93.60. The company has a market capitalization of $177.95 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results 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 business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. Equities analysts forecast that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,441,071 over the last three months. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Noble Wealth Management PBC acquired a new stake in Uber Technologies during the first quarter worth about $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after buying an additional 223 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Uber Technologies during the first quarter worth about $27,000. GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co grew its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 306 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.