Uber Technologies (NYSE:UBER) Receives Overweight Rating from Wells Fargo & Company

Wells Fargo & Company restated their overweight rating on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has a $97.00 price objective on the ride-sharing company’s stock.

Several other equities research analysts also recently commented on the company. Melius Research began coverage on Uber Technologies in a report on Monday, July 22nd. They set a hold rating and a $77.00 target price on the stock. JMP Securities lifted their price target 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. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Loop Capital raised their price objective on shares of Uber Technologies from $83.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $87.60.

Uber Technologies Stock Performance

Uber Technologies stock opened at $71.52 on Friday. 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 company has a market cap of $149.44 billion, a price-to-earnings ratio of 115.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. The stock’s 50-day moving average is $69.42 and its 200-day moving average is $70.83.

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 analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Uber Technologies’s revenue was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies will post 1.06 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Uber Technologies by 34.8% during 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 last quarter. Norges Bank acquired a new stake in shares of Uber Technologies during the 4th quarter worth approximately $1,415,778,000. Edgewood Management LLC bought a new stake in shares of Uber Technologies in the 4th quarter valued at $783,401,000. Price T Rowe Associates Inc. MD lifted its position in shares of Uber Technologies by 37.8% during the 1st 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 acquiring an additional 9,996,508 shares during the period. Finally, GQG Partners LLC grew its holdings in Uber Technologies by 74.1% in 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 purchasing an additional 9,541,366 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.