Uber Technologies (NYSE:UBER) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $90.00 target price on the ride-sharing company’s stock.

A number of other analysts also recently issued reports on the company. UBS Group dropped their price target on Uber Technologies from $114.00 to $107.00 and set a “buy” rating for the company in a research report on Monday. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Loop Capital increased their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Thursday, October 31st. Finally, Wolfe Research upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Seven investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.89.

Uber Technologies Stock Performance

Uber Technologies stock opened at $64.50 on Wednesday. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $135.82 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The firm’s 50 day simple moving average is $65.46 and its 200 day simple moving average is $70.11.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. As a group, analysts expect that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its position in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Jennison Associates LLC boosted its stake in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after purchasing an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the period. 80.24% of the stock is currently owned by 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.