Uber Technologies (NYSE:UBER) Research Coverage Started at Citigroup

by · The Markets Daily

Citigroup initiated coverage on shares of Uber Technologies (NYSE:UBER – Free Report) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $105.00 price objective on the ride-sharing company’s stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reduced their price target on Uber Technologies from $109.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Barclays cut their target price on Uber Technologies from $106.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. Wells Fargo & Company reduced their target price on Uber Technologies from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. Roth Capital decreased their target price on Uber Technologies from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Canaccord Genuity Group decreased their target price on Uber Technologies from $72.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, forty-four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $102.08.

Check Out Our Latest Report on UBER

Uber Technologies Price Performance

Shares of UBER stock opened at $70.78 on Monday. Uber Technologies has a 52-week low of $64.04 and a 52-week high of $95.18. The stock has a market cap of $144.52 billion, a PE ratio of 41.88, a PEG ratio of 2.60 and a beta of 1.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. The firm’s 50 day moving average price is $69.78 and its two-hundred day moving average price is $72.84.

Uber Technologies (NYSE:UBER – Get Free Report) last released its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $14.77 billion during the quarter, compared to analyst estimates of $14.66 billion. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.11 EPS. As a group, analysts forecast that Uber Technologies will post 3.27 EPS for the current year.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi acquired 141,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of $70.96 per share, for a total transaction of $10,005,360.00. Following the transaction, the chief executive officer directly owned 1,367,100 shares in the company, valued at approximately $97,009,416. This represents a 11.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 28,170 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $71.31, for a total value of $2,008,802.70. Following the sale, the insider directly owned 149,525 shares in the company, valued at $10,662,627.75. The trade was a 15.85% decrease in their position. The SEC filing for this sale provides additional information. 3.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently modified their holdings of the business. Public Investment Fund acquired a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $5,256,173,439. Legal & General Group Plc acquired a new stake in Uber Technologies during the 2nd quarter worth approximately $943,167,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Uber Technologies during the 2nd quarter worth approximately $752,151,000. Baird Financial Group Inc. lifted its stake in Uber Technologies by 64.4% in the second quarter. Baird Financial Group Inc. now owns 9,099,343 shares of the ride-sharing company’s stock valued at $656,609,000 after buying an additional 3,564,073 shares in the last quarter. Finally, Fundsmith LLP bought a new position in Uber Technologies in the second quarter valued at approximately $645,338,000. 80.24% of the stock is currently owned by institutional investors.

Key Uber Technologies News

These are some of the UBER news items that stood out recently:

  • Positive Sentiment: Uber expanded its multiyear McDonald’s delivery and loyalty partnership across 14 markets. Uber will be the preferred integrated delivery provider for orders placed through McDonald’s app in key markets, with loyalty rewards linked between the companies—potentially encouraging more orders and customer engagement. McDonald’s Expands Uber Partnership in 14 Markets
  • Positive Sentiment: Uber also partnered with Amazon to provide eligible Prime members free restaurant delivery, which could broaden Uber Eats’ reach and help attract customers. Uber Joins with Amazon on Food Delivery
  • Neutral Sentiment: Robotaxis remain a longer-term opportunity and competitive question. Rivian’s CEO discussed the company’s robotaxi work with Uber, while a separate commentary floated a possible Alphabet acquisition of Uber to combine Waymo with Uber’s network. The acquisition idea is speculation, not a reported deal. Rivian CEO Talks Robotaxis Google Could Buy Uber to Win the Robotaxi Wars

Uber Technologies Company Profile

(Get Free Report)

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.

Further Reading