Uber Technologies (NYSE:UBER) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $87.00 price objective on the ride-sharing company’s stock, up from their previous price objective of $80.00.

A number of other analysts also recently commented on UBER. Citizens Jmp downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America increased their price target on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson dropped their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group reduced their price target on Uber Technologies from $114.00 to $107.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.91.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $81.37 on Tuesday. The firm has a market cap of $169.97 billion, a PE ratio of 17.84, a P/E/G ratio of 0.89 and a beta of 1.39. The business has a 50-day moving average price of $67.67 and a 200 day moving average price of $71.11. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $87.00.

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

Insider Buying and Selling at Uber Technologies

In other Uber Technologies 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 sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Capital Research Global Investors increased its stake in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Norges Bank acquired a new stake in Uber Technologies during the 4th quarter valued at $1,467,754,000. Jennison Associates LLC increased its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after buying an additional 7,137,512 shares in the last quarter. Boston Partners purchased a new stake in shares of Uber Technologies in the fourth quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares in 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.