Uber Technologies (NYSE:UBER) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $80.00 price target on the ride-sharing company’s stock.

Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a report on Thursday, January 2nd. Royal Bank of Canada lifted their price target on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted their target price on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler decreased their price target on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday. Seven research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Uber Technologies Price Performance

UBER opened at $70.04 on Thursday. The company has a market capitalization of $147.47 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 0.77 and a beta of 1.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00. The business’s fifty day simple moving average is $65.31 and its 200-day simple moving average is $70.07.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. On average, equities research analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the period. Montrusco Bolton Investments Inc. purchased a new position in Uber Technologies during the fourth quarter worth approximately $166,072,000. Edgewood Management LLC grew its holdings in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Finally, AMF Tjanstepension AB purchased a new stake in shares of Uber Technologies in the third quarter valued at approximately $163,468,000. Institutional investors and hedge funds own 80.24% 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 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.