Uber Technologies (NYSE:UBER) Rating Reiterated by Wedbush

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Sunday, Zacks.com reports. Wedbush also issued estimates for Uber Technologies’ Q1 2022 earnings at ($0.25) EPS, Q3 2022 earnings at ($0.12) EPS and Q4 2022 earnings at ($0.02) EPS.

UBER has been the subject of several other research reports. DA Davidson boosted their target price on shares of Uber Technologies from $49.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. Nomura began coverage on shares of Uber Technologies in a research report on Monday, April 26th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Uber Technologies from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, March 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Wednesday, April 14th. Finally, Truist boosted their price objective on shares of Uber Technologies from $60.00 to $66.00 in a research report on Thursday, February 11th. Four equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.58.

Shares of UBER opened at $54.85 on Friday. The stock has a market cap of $102.07 billion, a price-to-earnings ratio of -13.78 and a beta of 1.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.36. Uber Technologies has a 1-year low of $26.58 and a 1-year high of $64.05. The firm has a 50 day simple moving average of $57.00 and a 200-day simple moving average of $52.50.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 10th. The ride-sharing company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). Uber Technologies had a negative return on equity of 43.27% and a negative net margin of 53.12%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm earned ($0.64) EPS. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies will post -3.86 earnings per share for the current fiscal year.

In related news, insider Jill Hazelbaker sold 20,756 shares of the stock in a transaction on Friday, February 12th. The stock was sold at an average price of $60.12, for a total value of $1,247,850.72. Following the transaction, the insider now directly owns 147,709 shares in the company, valued at approximately $8,880,265.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tony West sold 6,500 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $57.31, for a total value of $372,515.00. Following the completion of the transaction, the insider now owns 189,108 shares in the company, valued at $10,837,779.48. The disclosure for this sale can be found here. Corporate insiders own 8.66% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC bought a new position in Uber Technologies during the 4th quarter valued at $25,000. DB Wealth Management Group LLC bought a new position in Uber Technologies during the 4th quarter valued at $26,000. Atwood & Palmer Inc. bought a new position in Uber Technologies during the 1st quarter valued at $27,000. Whittier Trust Co. bought a new position in Uber Technologies during the 1st quarter valued at $30,000. Finally, Parkside Financial Bank & Trust lifted its stake in Uber Technologies by 245.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the ride-sharing company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services and other forms of transportation services, including public transit, as well as connect riders and other consumers with restaurants, grocers, other stores, and delivery service providers for meal preparation, grocery, and other delivery services.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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