Uber Technologies (NYSE:UBER) Earns Buy Rating from The Goldman Sachs Group

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reiterated by stock analysts at The Goldman Sachs Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $96.00 price objective on the ride-sharing company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 53.16% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. KeyCorp cut their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Oppenheimer boosted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company lowered their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Truist Financial decreased their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Six 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.47.

Uber Technologies Price Performance

NYSE UBER traded up $2.36 on Thursday, hitting $62.68. 10,901,178 shares of the company’s stock were exchanged, compared to its average volume of 19,204,439. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $68.54 and a 200-day moving average of $70.78. The stock has a market cap of $131.99 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts expect that Uber Technologies will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in shares of Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. MCF Advisors LLC grew its position in Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of Uber Technologies during the second quarter valued at approximately $36,000. Financial Management Professionals Inc. lifted its position in shares of Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Finally, Transcendent Capital Group LLC boosted its stake in shares of Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 550 shares during the period. 80.24% of the stock is currently 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.