Uber Technologies (NYSE:UBER) Coverage Initiated at Benchmark

Equities research analysts at Benchmark began coverage on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “hold” rating on the ride-sharing company’s stock.

Several other research analysts have also recently issued reports on the company. JMP Securities lifted their target price on Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 7th. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group lifted their target price on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, August 7th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.86.

Uber Technologies Trading Down 1.0 %

UBER opened at $77.62 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $87.00. The company has a market cap of $162.19 billion, a P/E ratio of 125.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33. The company has a fifty day moving average price of $75.09 and a two-hundred day moving average price of $70.80.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Analysts predict that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the company’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 transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC boosted 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 purchasing an additional 9,541,366 shares in the last quarter. Allen Investment Management LLC boosted 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 purchasing an additional 5,163,635 shares in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 3,623,951 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.