Uber Technologies’ (UBER) “Buy” Rating Reaffirmed at Truist Financial

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a research note issued on Friday, Benzinga reports. They currently have a $88.00 price target on the ride-sharing company’s stock. Truist Financial’s target price would suggest a potential upside of 26.16% from the stock’s previous close.

Several other brokerages have also recently issued reports on UBER. Cantor Fitzgerald began coverage on shares of Uber Technologies in a research report on Thursday. They set an “overweight” rating and a $90.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Tuesday, July 30th. Melius began coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. JMP Securities upped their price target on 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, Oppenheimer reissued an “outperform” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Uber Technologies Trading Down 2.1 %

Uber Technologies stock traded down $1.50 during mid-day trading on Friday, hitting $69.75. The company’s stock had a trading volume of 2,333,245 shares, compared to its average volume of 18,321,760. The business has a 50 day moving average price of $69.58 and a 200-day moving average price of $71.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14. The stock has a market cap of $145.74 billion, a price-to-earnings ratio of 112.37, a price-to-earnings-growth ratio of 1.31 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts forecast that Uber Technologies will post 1.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Tony West sold 28,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares in the company, valued at approximately $6,851,103.15. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently bought and sold shares of the stock. Wealthspire Advisors LLC raised its stake in shares of Uber Technologies by 0.6% in the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after buying an additional 151 shares during the period. Hilltop Holdings Inc. lifted its holdings in Uber Technologies by 2.9% during the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after purchasing an additional 157 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after purchasing an additional 157 shares during the period. Wellington Shields Capital Management LLC boosted its position in shares of Uber Technologies by 6.1% in the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after purchasing an additional 159 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of Uber Technologies by 3.2% in the first quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock worth $398,000 after purchasing an additional 160 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

About Uber Technologies

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.