Wells Fargo & Company Reiterates Overweight Rating for Uber Technologies (NYSE:UBER)

Wells Fargo & Company restated their overweight rating on shares of Uber Technologies (NYSE:UBER) in a report released on Friday morning, Benzinga reports. They currently have a $97.00 target price on the ride-sharing company’s stock.

Other research analysts have also recently issued research reports about the company. Wolfe Research assumed coverage on Uber Technologies in a research note on Tuesday, July 16th. They issued an outperform rating and a $90.00 price objective for the company. Evercore ISI upped their price target on Uber Technologies from $80.00 to $90.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a research note on Thursday, September 5th. They issued an overweight rating and a $90.00 price objective for the company. Loop Capital raised their price target on Uber Technologies from $83.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Finally, TD Cowen boosted their price objective on Uber Technologies from $88.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $87.60.

Uber Technologies Stock Down 1.3 %

UBER opened at $71.52 on Friday. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The firm has a market capitalization of $149.44 billion, a P/E ratio of 115.35, a PEG ratio of 1.21 and a beta of 1.33. The company’s 50-day moving average is $69.42 and its 200 day moving average is $70.83. 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 (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Research analysts expect that Uber Technologies will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UBER. Aptus Capital Advisors LLC increased its position in shares of Uber Technologies by 17.1% during the second quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after acquiring an additional 1,383 shares in the last quarter. US Bancorp DE grew its stake in shares of Uber Technologies by 2.5% during the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after purchasing an additional 24,059 shares during the period. Brookstone Capital Management lifted its stake in shares of Uber Technologies by 19.0% in the 2nd quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock worth $11,082,000 after purchasing an additional 25,814 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Uber Technologies by 26.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 41,254 shares of the ride-sharing company’s stock worth $2,998,000 after buying an additional 8,614 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Uber Technologies by 70.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock valued at $959,000 after buying an additional 6,426 shares during the period. 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.