Bank of America Reiterates Buy Rating for Uber Technologies (NYSE:UBER)

Bank of America reaffirmed their buy rating on shares of Uber Technologies (NYSE:UBERFree Report) in a report published on Friday morning, Benzinga reports. They currently have a $88.00 target price on the ride-sharing company’s stock.

A number of other equities analysts have also recently weighed in on UBER. Melius started coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They set a hold rating and a $77.00 price objective for the company. BMO Capital Markets reaffirmed an outperform rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday. Melius Research assumed coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They set a hold rating and a $77.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $80.00 price target on shares of Uber Technologies in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $88.11.

Read Our Latest Stock Analysis on Uber Technologies

Uber Technologies Price Performance

NYSE UBER opened at $84.96 on Friday. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $87.00. The firm’s fifty day simple moving average is $73.18 and its two-hundred day simple moving average is $70.51. 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 firm has a market capitalization of $177.53 billion, a P/E ratio of 137.03, a P/E/G ratio of 1.35 and a beta of 1.33.

Uber Technologies (NYSE:UBERGet Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.06% and a net margin of 5.02%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Analysts forecast that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of UBER. GHP Investment Advisors Inc. lifted its position in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the period. Financial Management Professionals Inc. raised its stake in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 202 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Uber Technologies during the first quarter worth $32,000. Finally, MCF Advisors LLC grew its position in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

(Get Free Report)

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.

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