Uber Technologies (NYSE:UBER) Rating Lowered to Neutral at Wedbush

Uber Technologies (NYSE:UBER) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $85.00 target price on the ride-sharing company’s stock, up from their prior target price of $80.00. Wedbush’s price target would indicate a potential upside of 2.91% from the company’s previous close.

A number of other research analysts have also issued reports on UBER. DA Davidson raised their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $82.60 on Thursday. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market cap of $172.78 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. The firm has a 50 day simple moving average of $74.72 and a 200 day simple moving average of $71.59.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. Uber Technologies’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,904 shares of company stock valued at $6,027,619. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Hedge funds have recently bought and sold shares of the business. Polianta Ltd purchased a new stake in Uber Technologies during the fourth quarter worth about $1,206,000. Allworth Financial LP increased its stake in shares of Uber Technologies by 8.9% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Uber Technologies in the 4th quarter worth approximately $3,188,000. Mirador Capital Partners LP grew its holdings in Uber Technologies by 40.4% during the fourth quarter. Mirador Capital Partners LP now owns 85,214 shares of the ride-sharing company’s stock valued at $5,140,000 after purchasing an additional 24,520 shares during the period. Finally, Clark Capital Management Group Inc. increased its position in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after buying an additional 399,008 shares during 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.