Uber Technologies’ (UBER) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBER) in a research note released on Friday morning, Benzinga reports. They currently have a $88.00 target price on the ride-sharing company’s stock.

Other equities research analysts have also recently issued reports about the company. Wolfe Research started coverage on Uber Technologies in a research note on Tuesday, July 16th. They set an outperform rating and a $90.00 target price for the company. Oppenheimer reiterated an outperform rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, June 5th. Loop Capital raised their price objective on shares of Uber Technologies from $83.00 to $84.00 and gave the company a buy rating in a report on Tuesday, September 3rd. Jefferies Financial Group reduced their price target on Uber Technologies from $103.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies has an average rating of Moderate Buy and an average target price of $87.60.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $69.78 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $69.51 and its 200-day moving average is $71.12. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14. The firm has a market cap of $146.60 billion, a P/E ratio of 112.55, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results 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 business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Equities research analysts predict that Uber Technologies will post 1.05 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 28,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of Uber Technologies by 23.4% in the fourth quarter. International Assets Investment Management LLC now owns 11,739 shares of the ride-sharing company’s stock worth $723,000 after acquiring an additional 2,225 shares during the period. Precision Wealth Strategies LLC purchased a new position in Uber Technologies during the fourth quarter worth about $444,000. 9258 Wealth Management LLC increased its stake in Uber Technologies by 52.6% in the 4th quarter. 9258 Wealth Management LLC now owns 12,138 shares of the ride-sharing company’s stock worth $747,000 after acquiring an additional 4,185 shares during the last quarter. Rollins Financial bought a new position in Uber Technologies in the 4th quarter worth about $265,000. Finally, Principal Securities Inc. purchased a new position in shares of Uber Technologies during the fourth quarter worth about $820,000. 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.