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

Needham & Company LLC restated their buy rating on shares of Uber Technologies (NYSE:UBER) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $109.00 target price on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. BMO Capital Markets upped their target price on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Tuesday, October 28th. Wedbush decreased their target price on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Piper Sandler boosted their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $110.00 price target on shares of Uber Technologies in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Performance

Uber Technologies stock opened at $92.33 on Tuesday. Uber Technologies has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11. The company has a market capitalization of $192.55 billion, a P/E ratio of 11.87 and a beta of 1.46. The business has a 50 day moving average of $95.50 and a 200-day moving average of $90.95.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. On average, equities research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares of the company’s stock, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 604,946 shares of company stock valued at $58,950,116 over the last three months. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently bought and sold shares of the stock. Kilter Group LLC purchased a new stake in shares of Uber Technologies during the second quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $27,000. Westend Capital Management LLC bought a new stake in shares of Uber Technologies in the 3rd quarter worth approximately $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $28,000. Finally, Truvestments Capital LLC raised its holdings in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after acquiring an additional 339 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.