Uber Technologies (NYSE:UBER) Receives Buy Rating from Truist Financial

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a research note issued on Friday, Benzinga reports. They presently have a $88.00 price target on the ride-sharing company’s stock. Truist Financial’s price target would indicate a potential upside of 26.16% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Morgan Stanley lifted their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. DA Davidson increased their target price on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Melius Research initiated coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

Uber Technologies Trading Down 2.1 %

NYSE UBER traded down $1.50 during mid-day trading on Friday, reaching $69.75. 2,333,245 shares of the stock were exchanged, compared to its average volume of 18,321,760. The stock has a market cap of $145.74 billion, a P/E ratio of 112.37, a P/E/G ratio of 1.31 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies has a one year low of $40.09 and a one year high of $82.14. The stock has a 50 day simple moving average of $69.58 and a 200-day simple moving average of $71.32.

Uber Technologies (NYSE:UBER) last issued 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. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, analysts anticipate that Uber Technologies will post 1.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 96,945 shares in the company, valued at $6,851,103.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Tony West sold 28,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares in the company, valued at $6,851,103.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently added to or reduced their stakes in UBER. GHP Investment Advisors Inc. boosted its stake in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the period. Financial Management Professionals Inc. grew its stake in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 202 shares in the last quarter. WR Wealth Planners LLC increased its holdings in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 344 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Uber Technologies in the 1st quarter worth $32,000. Finally, MCF Advisors LLC raised its position in shares of Uber Technologies by 1,038.5% during 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 in the last quarter. 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.