Needham & Company LLC Reiterates Buy Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $90.00 price target on the ride-sharing company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 37.34% from the stock’s current price.

Several other brokerages have also commented on UBER. BMO Capital Markets boosted their price objective on Uber Technologies from $82.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Bank of America boosted their price target on shares of Uber Technologies from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Monday, April 29th. JMP Securities reaffirmed a “market outperform” rating and set a $85.00 price objective on shares of Uber Technologies in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Uber Technologies from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $81.65.

Uber Technologies Stock Down 7.0 %

NYSE UBER traded down $4.90 during mid-day trading on Wednesday, hitting $65.53. The company’s stock had a trading volume of 26,307,163 shares, compared to its average volume of 19,865,549. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79. The company’s 50 day simple moving average is $75.03 and its 200 day simple moving average is $65.83. The firm has a market capitalization of $136.39 billion, a price-to-earnings ratio of 76.81, a PEG ratio of 1.09 and a beta of 1.39. Uber Technologies has a twelve month low of $37.07 and a twelve month high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.50. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.76 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. Analysts anticipate that Uber Technologies will post 1.23 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the transaction, the insider now owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total value of $1,556,600.00. Following the transaction, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the sale, the insider now directly owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in UBER. Covenant Asset Management LLC lifted its stake in shares of Uber Technologies by 0.3% during the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after buying an additional 157 shares during the period. Hilltop Holdings Inc. grew its holdings in Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after purchasing an additional 157 shares during the period. Sivia Capital Partners LLC grew its stake in Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after acquiring an additional 157 shares during the period. Wellington Shields Capital Management LLC raised its position in shares of Uber Technologies by 6.1% during the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after purchasing an additional 159 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its position in shares of Uber Technologies by 3.6% in the fourth quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock valued at $289,000 after acquiring an additional 163 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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 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.