Uber Technologies (NYSE:UBER) Stock Picked Up by Analysts at Citigroup

Equities research analysts at Citigroup began coverage on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Monday, Benzinga reports. The brokerage set a “buy” rating and a $105.00 price target on the ride-sharing company’s stock. Citigroup‘s price objective indicates a potential upside of 52.99% from the stock’s previous close.

UBER has been the topic of several other research reports. Susquehanna lowered their target price on Uber Technologies from $110.00 to $90.00 and set a “positive” rating on the stock in a research note on Thursday, August 6th. Jefferies Financial Group increased their price target on shares of Uber Technologies from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wells Fargo & Company decreased their price target on shares of Uber Technologies from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday. Moffett Nathanson boosted their price objective on shares of Uber Technologies from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Loop Capital upped their price objective on shares of Uber Technologies from $91.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.02.

Uber Technologies Stock Up 0.1%

Shares of NYSE:UBER opened at $68.63 on Monday. The firm has a 50 day simple moving average of $70.14 and a 200 day simple moving average of $73.03. The company has a market cap of $140.18 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 8.94 and a beta of 1.33. Uber Technologies has a 52 week low of $64.04 and a 52 week high of $95.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $14.77 billion during the quarter, compared to analysts’ expectations of $14.66 billion. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. Uber Technologies’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.11 earnings per share. As a group, research analysts expect that Uber Technologies will post 3.11 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Andrew Macdonald acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average price of $75.83 per share, with a total value of $5,308,100.00. Following the transaction, the insider owned 426,320 shares of the company’s stock, valued at approximately $32,327,845.60. This trade represents a 19.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi bought 141,000 shares of the stock in a transaction on Thursday, September 10th. The stock was acquired at an average cost of $70.96 per share, for a total transaction of $10,005,360.00. Following the acquisition, the chief executive officer directly owned 1,367,100 shares in the company, valued at approximately $97,009,416. The trade was a 11.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 3.81% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BIP Wealth LLC bought a new position in Uber Technologies during the second quarter valued at about $1,033,000. Pacer Advisors Inc. raised its stake in Uber Technologies by 23.7% during the first quarter. Pacer Advisors Inc. now owns 5,152,795 shares of the ride-sharing company’s stock worth $370,641,000 after acquiring an additional 985,989 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Uber Technologies by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 514,735 shares of the ride-sharing company’s stock worth $37,025,000 after purchasing an additional 29,587 shares in the last quarter. Weiss Asset Management LP increased its holdings in shares of Uber Technologies by 465.5% during the first quarter. Weiss Asset Management LP now owns 62,520 shares of the ride-sharing company’s stock worth $4,497,000 after buying an additional 51,465 shares in the last quarter. Finally, Evercore Wealth Management LLC raised its position in Uber Technologies by 6.3% in the 1st quarter. Evercore Wealth Management LLC now owns 1,156,032 shares of the ride-sharing company’s stock valued at $83,153,000 after purchasing an additional 68,433 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats.

The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.

Founded in San Francisco in 2009 as UberCab, the company expanded from ride-hailing into delivery and freight.