Needham & Company LLC Reiterates “Buy” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $90.00 target price on the ride-sharing company’s stock. Needham & Company LLC’s price target points to a potential upside of 32.20% from the company’s current price.

A number of other research firms have also weighed in on UBER. KeyCorp dropped their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Wolfe Research increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Evercore ISI boosted their target price on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. DA Davidson raised their price target on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.08.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $68.08 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The business’s 50 day simple moving average is $65.83 and its two-hundred day simple moving average is $70.19. The stock has a market capitalization of $143.35 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Analysts forecast that Uber Technologies will post 1.86 EPS for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of UBER. CENTRAL TRUST Co lifted its position in shares of Uber Technologies by 12.3% during the 3rd 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 in the last quarter. Procyon Advisors LLC raised its stake in Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after acquiring an additional 131 shares during the period. DT Investment Partners LLC lifted its holdings in Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after purchasing an additional 145 shares in the last quarter. Jmac Enterprises LLC boosted its position in shares of Uber Technologies by 2.1% in 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 during the period. Finally, Canopy Partners LLC raised its position in shares of Uber Technologies by 2.2% during the 3rd quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock valued at $523,000 after purchasing an additional 151 shares during the period. 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.