Wolfe Research Initiates Coverage on Uber Technologies (NYSE:UBER)

Wolfe Research started coverage on shares of Uber Technologies (NYSE:UBER) in a report released on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $90.00 price target on the ride-sharing company’s stock.

Several other research firms have also commented on UBER. UBS Group reduced their price target on shares of Uber Technologies from $100.00 to $95.00 and set a buy rating for the company in a report on Thursday, May 9th. Truist Financial boosted their price target on shares of Uber Technologies from $90.00 to $94.00 and gave the company a buy rating in a report on Wednesday, March 27th. BMO Capital Markets restated an outperform rating and issued a $92.00 price target on shares of Uber Technologies in a report on Wednesday, May 15th. Tigress Financial boosted their price target on shares of Uber Technologies from $72.00 to $96.00 and gave the company a buy rating in a report on Friday, April 19th. Finally, DA Davidson restated a buy rating and issued a $81.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $85.44.

Uber Technologies Trading Down 3.4 %

Shares of UBER opened at $66.29 on Tuesday. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14. The company has a 50-day moving average of $68.54 and a 200 day moving average of $70.60. The firm has a market capitalization of $138.51 billion, a price-to-earnings ratio of 106.92, a PEG ratio of 1.50 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts expect that Uber Technologies will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’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 sale, the chief executive officer now 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 can be accessed through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tony West sold 89,234 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the sale, the insider now directly owns 124,945 shares in the company, valued at $8,518,750.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently made changes to their positions in UBER. Diversified Trust Co boosted its holdings in shares of Uber Technologies by 3.0% in the 4th quarter. Diversified Trust Co now owns 16,055 shares of the ride-sharing company’s stock valued at $989,000 after acquiring an additional 475 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Uber Technologies by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 126,969 shares of the ride-sharing company’s stock valued at $7,892,000 after acquiring an additional 5,652 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Uber Technologies by 35.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 87,539 shares of the ride-sharing company’s stock valued at $5,390,000 after purchasing an additional 22,924 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in shares of Uber Technologies by 1.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 26,522 shares of the ride-sharing company’s stock valued at $1,633,000 after purchasing an additional 333 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Uber Technologies by 3.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 12,743 shares of the ride-sharing company’s stock valued at $734,000 after purchasing an additional 395 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.