Uber Technologies (NYSE:UBER) Earns Buy Rating from Bank of America

by · The Cerbat Gem

Bank of America reiterated their buy rating on shares of Uber Technologies (NYSE:UBER – Free Report) in a report published on Friday, Benzinga reports. They currently have a $88.00 price objective on the ride-sharing company’s stock.

A number of other research analysts have also recently commented on the company. Roth Mkm increased their price target on Uber Technologies from $89.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, August 7th. TD Cowen lifted their price objective on shares of Uber Technologies from $88.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group increased their price target on Uber Technologies from $85.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, August 7th. DA Davidson lifted their price objective 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. Finally, Melius assumed coverage on Uber Technologies in a report on Monday, July 22nd. They set a hold rating and a $77.00 price target for the company. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has an average rating of Moderate Buy and an average price target of $88.11.

Get Our Latest Stock Analysis on UBER

Uber Technologies Stock Down 1.6 %

NYSE UBER opened at $84.96 on Friday. The stock’s 50 day simple moving average is $73.18 and its 200 day simple moving average is $70.51. 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 has a one year low of $40.09 and a one year high of $87.00. The firm has a market cap of $177.53 billion, a PE ratio of 137.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33.

Uber Technologies (NYSE:UBER – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the previous year, the business posted $0.18 EPS. Uber Technologies’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies will post 1.08 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. increased its holdings in shares of Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 245 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. WR Wealth Planners LLC raised its position in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares during the period. J.Safra Asset Management Corp bought a new stake in Uber Technologies in the first quarter worth about $32,000. Finally, MCF Advisors LLC boosted its position in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the period. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

(Get Free Report)

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.

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