Uber Technologies (NYSE:UBER) Earns Outperform Rating from Royal Bank of Canada

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They presently have a $80.00 price target on the ride-sharing company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 3.69% from the stock’s previous close.

UBER has been the topic of a number of other reports. Roth Mkm lifted their target price on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. TD Cowen lifted their target price on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research began coverage on Uber Technologies in a report on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.86.

Uber Technologies Price Performance

Shares of UBER traded down $1.23 during midday trading on Friday, reaching $77.15. The stock had a trading volume of 7,185,747 shares, compared to its average volume of 17,866,117. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $87.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50 day moving average price is $74.98 and its 200-day moving average price is $70.81. The company has a market capitalization of $162.09 billion, a P/E ratio of 84.77, a P/E/G ratio of 1.40 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company 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 business earned $0.18 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Uber Technologies will post 1.08 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently modified their holdings of UBER. Price T Rowe Associates Inc. MD raised its holdings in shares of Uber Technologies by 37.8% in the 1st 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 buying an additional 9,996,508 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Allen Investment Management LLC raised its holdings in shares of Uber Technologies by 2,956.5% in the 1st 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. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after buying an additional 3,623,951 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings 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 purchasing an additional 3,179,308 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

About Uber Technologies

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.