Uber Technologies’ (UBER) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Uber Technologies (NYSE:UBER) in a report published on Tuesday,Benzinga reports. Piper Sandler currently has a $87.00 price target on the ride-sharing company’s stock, up from their previous price target of $80.00.

A number of other analysts have also commented on UBER. DA Davidson reduced their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Bank of America lifted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a report on Thursday, February 6th. Finally, Wolfe Research upped their price objective on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $90.91.

Uber Technologies Stock Up 0.3 %

UBER stock opened at $81.37 on Tuesday. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a market capitalization of $169.97 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The business’s 50 day moving average price is $67.67 and its two-hundred day moving average price is $71.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its stake in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares in the last quarter. Norges Bank acquired a new position in shares of Uber Technologies during the fourth quarter worth $1,467,754,000. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Boston Partners purchased a new stake in shares of Uber Technologies during the 4th quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Hedge funds and other institutional investors 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.