Uber Technologies’ (UBER) Outperform Rating Reiterated at Wedbush


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Wedbush reissued their outperform rating on shares of Uber Technologies (NYSE:UBER) in a report released on Sunday, Zacks.com reports. Wedbush also issued estimates for Uber Technologies’ Q1 2022 earnings at ($0.25) EPS, Q3 2022 earnings at ($0.12) EPS and Q4 2022 earnings at ($0.02) EPS.

A number of other research analysts also recently commented on UBER. JMP Securities raised their target price on shares of Uber Technologies from $58.00 to $75.00 and gave the company an outperform rating in a research report on Tuesday, February 16th. Susquehanna lifted their price objective on shares of Uber Technologies from $45.00 to $70.00 and gave the company a neutral rating in a report on Thursday, February 11th. Stifel Nicolaus upped their target price on Uber Technologies from $60.00 to $65.00 and gave the stock a buy rating in a report on Thursday, February 4th. KeyCorp boosted their price target on Uber Technologies from $60.00 to $63.00 and gave the stock an overweight rating in a research report on Tuesday, February 9th. Finally, BTIG Research upped their price objective on Uber Technologies from $70.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, February 11th. Four research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $64.58.

Uber Technologies stock opened at $52.99 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $98.61 billion, a PE ratio of -13.31 and a beta of 1.60. The company has a 50 day moving average price of $56.89 and a 200-day moving average price of $52.61. Uber Technologies has a fifty-two week low of $26.81 and a fifty-two week high of $64.05.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 10th. The ride-sharing company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.01). The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.56 billion. Uber Technologies had a negative net margin of 53.12% and a negative return on equity of 43.27%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period last year, the firm earned ($0.64) earnings per share. On average, analysts forecast that Uber Technologies will post -3.86 earnings per share for the current year.

In related news, insider Jill Hazelbaker sold 20,756 shares of the business’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $60.12, for a total value of $1,247,850.72. Following the completion of the transaction, the insider now directly owns 147,709 shares in the company, valued at approximately $8,880,265.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 6,500 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $57.31, for a total transaction of $372,515.00. Following the sale, the insider now directly owns 189,108 shares in the company, valued at $10,837,779.48. The disclosure for this sale can be found here. Insiders own 8.66% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Regent Peak Wealth Advisors LLC acquired a new position in Uber Technologies in the 4th quarter worth about $25,000. DB Wealth Management Group LLC purchased a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $27,000. Parkside Financial Bank & Trust lifted its position in shares of Uber Technologies by 245.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the ride-sharing company’s stock valued at $28,000 after buying an additional 393 shares in the last quarter. Finally, Whittier Trust Co. acquired a new stake in Uber Technologies in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

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 the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services and other forms of transportation services, including public transit, as well as connect riders and other consumers with restaurants, grocers, other stores, and delivery service providers for meal preparation, grocery, and other delivery services.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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