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

by · The Markets Daily

Uber Technologies (NYSE:UBER – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at Bank of America in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $88.00 price objective on the ride-sharing company’s stock. Bank of America‘s price target would indicate a potential upside of 3.18% from the company’s current price.

Several other equities analysts also recently commented on the company. Melius Research assumed coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a report on Friday. DA Davidson raised their target price on Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer boosted their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average target price of $88.11.

Get Our Latest Research Report on Uber Technologies

Uber Technologies Stock Performance

Shares of NYSE:UBER traded up $7.37 on Friday, hitting $85.29. 37,965,563 shares of the company were exchanged, compared to its average volume of 17,981,244. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company’s 50 day moving average price is $72.10 and its two-hundred day moving average price is $70.51. Uber Technologies has a one year low of $40.09 and a one year high of $86.25. The firm has a market capitalization of $179.19 billion, a price-to-earnings ratio of 93.62, a PEG ratio of 1.35 and a beta of 1.33.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the previous year, the company earned $0.18 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Research analysts expect that Uber Technologies will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after acquiring an additional 43,275,830 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares in the last quarter. Allen Investment Management LLC grew its holdings in Uber Technologies by 2,956.5% during the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock worth $410,995,000 after buying an additional 5,163,635 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after acquiring an additional 3,179,308 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

(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.

Featured Stories