Uber Technologies (NYSE:UBER) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Wednesday,Benzinga reports. They currently have a $80.00 price target on the ride-sharing company’s stock.

A number of other research analysts also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $89.81.

Uber Technologies Stock Performance

NYSE:UBER opened at $73.00 on Wednesday. The company has a market capitalization of $152.70 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The business has a 50 day moving average of $74.16 and a 200 day moving average of $71.45.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, sell-side analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Noble Wealth Management PBC acquired a new stake in Uber Technologies in the first quarter worth about $27,000. Kozak & Associates Inc. raised its holdings in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 299 shares during the period. Perkins Coie Trust Co boosted its position in Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 306 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.