The Goldman Sachs Group Reiterates Buy Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by investment analysts at The Goldman Sachs Group in a research 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 target suggests a potential upside of 48.63% from the company’s previous close.

Several other analysts have also issued reports on UBER. Evercore ISI upped their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial cut their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research report on Friday, October 11th. JMP Securities downgraded shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Thursday. Finally, Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Stock Up 2.2 %

Shares of Uber Technologies stock opened at $64.59 on Thursday. The business has a fifty day simple moving average of $67.98 and a 200 day simple moving average of $70.69. The stock has a market cap of $136.01 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Research analysts predict that Uber Technologies will post 1.89 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co boosted its stake in Uber Technologies by 12.3% during the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after buying an additional 127 shares during the period. Procyon Advisors LLC raised its holdings in shares of Uber Technologies by 2.1% in the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after acquiring an additional 131 shares in the last quarter. DT Investment Partners LLC boosted its position in shares of Uber Technologies by 21.4% during the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after acquiring an additional 145 shares during the last quarter. Jmac Enterprises LLC grew its holdings in shares of Uber Technologies by 2.1% during the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after purchasing an additional 150 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Uber Technologies by 0.6% in the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.