Uber Technologies (NYSE:UBER) Receives “Outperform” Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Uber Technologies (NYSE:UBER) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a $92.00 target price on the ride-sharing company’s stock.

Several other research analysts also recently weighed in on UBER. JMP Securities upped their price objective on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a market outperform rating in a report on Wednesday, August 7th. Needham & Company LLC reiterated a buy rating and set a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, August 7th. Evercore ISI raised their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Morgan Stanley increased their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an overweight rating in a research report on Tuesday, July 23rd. Finally, Bank of America reissued a buy rating and issued a $88.00 price target on shares of Uber Technologies in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $88.11.

Uber Technologies Stock Performance

NYSE:UBER opened at $86.34 on Friday. The stock’s 50-day moving average is $72.10 and its 200-day moving average is $70.51. 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. The stock has a market cap of $181.40 billion, a P/E ratio of 94.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Uber Technologies will post 1.08 earnings per share for the current year.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, 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 filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after purchasing an additional 43,275,830 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. GQG Partners LLC grew its stake 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 period. Allen Investment Management LLC raised its stake in shares of Uber Technologies by 2,956.5% in the 1st quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock valued at $410,995,000 after acquiring an additional 5,163,635 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.