Uber Technologies’ (UBER) Buy Rating Reiterated at Needham & Company LLC

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $109.00 target price on the ride-sharing company’s stock. Needham & Company LLC’s target price suggests a potential upside of 8.99% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. KeyCorp upped their price target on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Susquehanna upped their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $108.00 target price on shares of Uber Technologies in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $106.82.

Uber Technologies Stock Up 3.6%

UBER stock opened at $100.01 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a fifty day simple moving average of $95.66 and a 200 day simple moving average of $90.79. The firm has a market cap of $208.56 billion, a PE ratio of 17.04 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 100,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 in the last 90 days. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Keybank National Association OH increased its position in Uber Technologies by 8.6% in the third quarter. Keybank National Association OH now owns 43,009 shares of the ride-sharing company’s stock worth $4,214,000 after purchasing an additional 3,398 shares during the period. Howard Capital Management Inc. grew its holdings in Uber Technologies by 3.3% during the third quarter. Howard Capital Management Inc. now owns 15,086 shares of the ride-sharing company’s stock valued at $1,478,000 after purchasing an additional 480 shares during the period. Berman McAleer LLC acquired a new position in Uber Technologies during the third quarter valued at approximately $215,000. Private Wealth Partners LLC acquired a new position in Uber Technologies during the third quarter valued at approximately $239,000. Finally, National Pension Service grew its stake in Uber Technologies by 2.8% in the third quarter. National Pension Service now owns 4,439,421 shares of the ride-sharing company’s stock valued at $434,930,000 after acquiring an additional 122,307 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.