Uber Technologies (NYSE:UBER) Cut to “Sell” at Melius

Uber Technologies (NYSE:UBER) was downgraded by investment analysts at Melius from a “hold” rating to a “sell” rating in a report released on Monday. They presently have a $73.00 target price on the ride-sharing company’s stock. Melius’ target price indicates a potential downside of 11.79% from the company’s current price.

Other equities research analysts have also issued reports about the stock. TD Cowen lifted their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Truist Financial boosted their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Mizuho began coverage on shares of Uber Technologies in a report on Monday, September 29th. They set an “outperform” rating and a $130.00 price target for the company. Arete Research set a $125.00 price objective on Uber Technologies and gave the company a “buy” rating in a report on Wednesday, December 3rd. Finally, Susquehanna restated a “positive” rating and set a $110.00 price objective on shares of Uber Technologies in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.26.

Uber Technologies Trading Up 1.3%

Shares of UBER stock opened at $82.76 on Monday. Uber Technologies has a fifty-two week low of $60.63 and a fifty-two week high of $101.99. The stock’s fifty day moving average price is $87.66 and its two-hundred day moving average price is $91.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $171.96 billion, a PE ratio of 10.64 and a beta of 1.20.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same period in the prior year, the company earned $1.20 EPS. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total transaction of $251,125.00. Following the completion of the transaction, the insider directly owned 175,423 shares of the company’s stock, valued at $14,096,992.28. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. This trade represents a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 14,875 shares of company stock valued at $1,348,818. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently modified their holdings of the company. Foster Group Inc. raised its stake in shares of Uber Technologies by 3.3% during the 3rd quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 107 shares during the period. Sage Rhino Capital LLC grew its holdings in Uber Technologies by 4.2% during the 3rd quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock valued at $268,000 after buying an additional 110 shares in the last quarter. Quent Capital LLC increased its position in shares of Uber Technologies by 3.3% during the third quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock valued at $343,000 after buying an additional 111 shares during the period. Advisors Capital Management LLC boosted its position in shares of Uber Technologies by 1.8% in the third quarter. Advisors Capital Management LLC now owns 6,398 shares of the ride-sharing company’s stock valued at $627,000 after acquiring an additional 111 shares during the period. Finally, Emergent Wealth Advisors LLC grew its stake in Uber Technologies by 0.7% during the third quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock valued at $1,701,000 after acquiring an additional 114 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.