Royal Bank of Canada Reiterates “Outperform” Rating for Uber Technologies (NYSE:UBER)

Royal Bank of Canada reissued their outperform rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $80.00 target price on the ride-sharing company’s stock.

Several other brokerages also recently commented on UBER. Truist Financial boosted their target price on Uber Technologies from $88.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Citigroup upped their price objective on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company reissued an “overweight” rating and issued a $97.00 price objective on shares of Uber Technologies in a research note on Friday, September 13th. JMP Securities boosted their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group increased their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average target price of $88.86.

Uber Technologies Stock Performance

NYSE UBER opened at $77.62 on Friday. The firm’s 50 day simple moving average is $75.09 and its 200 day simple moving average is $70.80. The firm has a market capitalization of $162.19 billion, a price-to-earnings ratio of 125.19, a P/E/G ratio of 1.40 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $87.00.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter last year, the business posted $0.18 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Uber Technologies will post 1.08 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 127,352 shares in the company, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC raised its holdings in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares during the last quarter. Allen Investment Management LLC lifted its stake in shares of Uber Technologies by 2,956.5% in the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock valued at $410,995,000 after buying an additional 5,163,635 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after acquiring an additional 3,179,308 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.