Uber Technologies (NYSE:UBER) Earns "Buy" Rating from Needham & Company LLC

Uber Technologies (NYSE:UBER - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price target on the ride-sharing company's stock. Needham & Company LLC's price objective points to a potential upside of 24.55% from the stock's previous close.

UBER has been the topic of several other reports. Truist Financial lifted their target price on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Evercore ISI lowered their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Uber Technologies from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. TD Cowen lowered their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Arete Research raised shares of Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $89.97.

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Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $1.32 during trading on Wednesday, reaching $72.26. The company's stock had a trading volume of 16,265,909 shares, compared to its average volume of 20,344,867. The company has a 50-day moving average price of $73.94 and a two-hundred day moving average price of $71.47. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market cap of $151.15 billion, a PE ratio of 15.85, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, analysts forecast that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares of the company's stock, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 over the last quarter. Company insiders own 3.84% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in the company. Perkins Coie Trust Co boosted its stake in Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Uber Technologies during the first quarter worth approximately $51,000. Gateway Investment Advisers LLC grew its holdings in Uber Technologies by 273.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 396,770 shares of the ride-sharing company's stock worth $28,909,000 after buying an additional 290,421 shares in the last quarter. GGM Financials LLC acquired a new stake in Uber Technologies in the 1st quarter valued at approximately $202,000. Finally, City State Bank raised its stake in Uber Technologies by 3,330.0% during the 1st quarter. City State Bank now owns 1,715 shares of the ride-sharing company's stock valued at $125,000 after acquiring an additional 1,665 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

About Uber Technologies

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.