Uber Technologies (NYSE:UBER) Earns Buy Rating from BTIG Research

by · The Cerbat Gem

Uber Technologies (NYSE:UBERGet Free Report)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They presently have a $100.00 target price on the ride-sharing company’s stock. BTIG Research’s price target suggests a potential upside of 33.97% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald decreased their price objective on shares of Uber Technologies from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Wedbush lowered their price target on Uber Technologies from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Sanford C. Bernstein reissued an “outperform” rating on shares of Uber Technologies in a report on Thursday, December 18th. Guggenheim reiterated a “buy” rating and set a $135.00 price target on shares of Uber Technologies in a research note on Thursday, January 22nd. Finally, UBS Group set a $111.00 price target on Uber Technologies in a report on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.19.

Check Out Our Latest Research Report on Uber Technologies

Uber Technologies Price Performance

Uber Technologies stock traded down $3.29 during mid-day trading on Wednesday, reaching $74.64. 43,686,157 shares of the company were exchanged, compared to its average volume of 20,660,719. Uber Technologies has a 12 month low of $60.63 and a 12 month high of $101.99. The firm has a market cap of $155.09 billion, a PE ratio of 9.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The company has a fifty day simple moving average of $83.78 and a 200-day simple moving average of $90.05.

Uber Technologies (NYSE:UBERGet Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. During the same period last year, the company posted $1.20 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $83.50, for a total value of $260,937.50. Following the completion of the sale, the insider owned 176,584 shares of the company’s stock, valued at $14,744,764. The trade was a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,875 shares of company stock worth $1,319,130 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock worth $4,491,000 after acquiring an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Bison Wealth LLC raised its holdings in Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after acquiring an additional 641 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $304,000. Finally, Trueblood Wealth Management LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $265,000. 80.24% of the stock is currently owned by institutional investors.

Key Uber Technologies News

Here are the key news stories impacting Uber Technologies this week:

Uber Technologies Company Profile

(Get Free Report)

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

Further Reading