Uber Technologies (NYSE:UBER) Earns “Buy” Rating from JMP Securities

JMP Securities reissued their buy rating on shares of Uber Technologies (NYSE:UBER) in a report issued on Wednesday, Analyst Price Targets reports. The brokerage currently has a $77.00 price objective on the ride-sharing company’s stock.

Several other equities analysts have also weighed in on UBER. Gordon Haskett started coverage on Uber Technologies in a research note on Monday, August 2nd. They issued a buy rating and a $65.00 target price on the stock. Wells Fargo & Company reissued a buy rating on shares of Uber Technologies in a research note on Thursday, July 1st. Wedbush cut their target price on Uber Technologies from $66.00 to $51.00 and set an outperform rating on the stock in a research note on Thursday, August 5th. Oppenheimer lowered their price target on Uber Technologies from $80.00 to $70.00 and set an outperform rating for the company in a report on Thursday, August 5th. Finally, BTIG Research restated a buy rating on shares of Uber Technologies in a report on Thursday, June 10th. Three research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $68.63.

Shares of UBER opened at $46.63 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. Uber Technologies has a 12-month low of $32.90 and a 12-month high of $64.05. The firm has a market capitalization of $87.87 billion, a PE ratio of -72.86 and a beta of 1.54. The stock’s fifty day simple moving average is $42.39 and its 200-day simple moving average is $48.96.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 4th. The ride-sharing company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $1.11. Uber Technologies had a negative return on equity of 15.64% and a negative net margin of 7.78%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted ($1.02) earnings per share. The firm’s revenue for the quarter was up 75.3% compared to the same quarter last year. Analysts anticipate that Uber Technologies will post -0.2 EPS for the current year.

In related news, insider Tony West sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, July 2nd. The stock was sold at an average price of $50.51, for a total value of $328,315.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.06% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Uber Technologies by 733.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 313,221 shares of the ride-sharing company’s stock worth $15,974,000 after buying an additional 275,622 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Uber Technologies by 41.1% in the first quarter. The Manufacturers Life Insurance Company now owns 62,463 shares of the ride-sharing company’s stock worth $3,405,000 after buying an additional 18,185 shares during the period. Keybank National Association OH purchased a new stake in Uber Technologies in the first quarter worth about $295,000. The PNC Financial Services Group Inc. lifted its holdings in Uber Technologies by 31.2% in the first quarter. The PNC Financial Services Group Inc. now owns 72,490 shares of the ride-sharing company’s stock worth $3,951,000 after buying an additional 17,244 shares during the period. Finally, Sowell Financial Services LLC lifted its holdings in Uber Technologies by 7.2% in the first quarter. Sowell Financial Services LLC now owns 15,099 shares of the ride-sharing company’s stock worth $704,000 after buying an additional 1,020 shares during the period. Institutional investors and hedge funds own 72.73% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.

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Analyst Recommendations for Uber Technologies (NYSE:UBER)

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