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

Uber Technologies (NYSE:UBER - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $90.00 price target on the ride-sharing company's stock. Needham & Company LLC's price objective would suggest a potential upside of 28.08% from the stock's current price.

UBER has been the subject of a number of other research reports. Benchmark started coverage on shares of Uber Technologies in a report on Friday, October 25th. They issued a "hold" rating for the company. JMP Securities increased their price objective on shares of Uber Technologies from $75.00 to $80.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 7th. Truist Financial boosted their target price on shares of Uber Technologies from $88.00 to $99.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Bank of America raised their price objective on Uber Technologies from $88.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Oppenheimer upped their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.19.

Uber Technologies Price Performance

Shares of NYSE UBER traded down $9.16 during trading hours on Thursday, hitting $70.27. 41,791,984 shares of the stock were exchanged, compared to its average volume of 17,930,801. The company's fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $70.87. The company has a market cap of $147.63 billion, a PE ratio of 77.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies has a 1-year low of $42.20 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) 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 company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter last year, the company posted $0.18 EPS. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Uber Technologies will post 1.1 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was 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 owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

A number of institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its holdings in 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 period. WR Wealth Planners LLC raised its holdings in shares of Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 344 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Uber Technologies in the first quarter valued at $32,000. MCF Advisors LLC boosted its holdings in Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company's stock valued at $32,000 after acquiring an additional 405 shares in the last quarter. Finally, Founders Capital Management purchased a new position in Uber Technologies during the 2nd quarter valued at $33,000. 80.24% of the stock is currently owned by hedge funds and other 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.