Raymond James Initiates Coverage on Uber Technologies (NYSE:UBER)

Raymond James assumed coverage on shares of Uber Technologies (NYSE:UBER) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued a strong-buy rating and a $90.00 target price on the ride-sharing company’s stock.

Several other analysts also recently weighed in on the company. Loop Capital lifted their price objective on Uber Technologies from $83.00 to $84.00 and gave the company a buy rating in a report on Tuesday, September 3rd. Royal Bank of Canada reissued an outperform rating and set a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Citigroup upped their target price on Uber Technologies from $96.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, August 7th. BMO Capital Markets reiterated an outperform rating and issued a $92.00 price target on shares of Uber Technologies in a report on Tuesday, July 30th. Finally, Evercore ISI raised their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $87.81.

Uber Technologies Trading Down 1.2 %

UBER opened at $75.77 on Tuesday. The firm has a market cap of $159.19 billion, a P/E ratio of 122.48, a P/E/G ratio of 1.38 and a beta of 1.33. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14. The stock has a 50-day moving average of $70.09 and a 200 day moving average of $70.71. 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 (NYSE:UBER) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. As a group, research analysts forecast that Uber Technologies will post 1.06 EPS for the current year.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies 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 transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated 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. The disclosure for this sale can be found here. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

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

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.