Uber Technologies’ (UBER) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Uber Technologies (NYSE:UBER) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $90.00 target price on the ride-sharing company’s stock.

Several other brokerages also recently issued reports on UBER. Bank of America increased their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research report on Friday, January 31st. Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Cantor Fitzgerald upped their target price on Uber Technologies from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, KeyCorp dropped their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.19.

Uber Technologies Stock Up 6.8 %

Shares of Uber Technologies stock opened at $74.76 on Wednesday. The stock has a 50-day moving average price of $65.28 and a 200 day moving average price of $70.07. The company has a market cap of $157.43 billion, a P/E ratio of 37.20, a P/E/G ratio of 0.77 and a beta of 1.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. As a group, analysts expect that Uber Technologies will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Prosperity Wealth Management Inc. raised its position in Uber Technologies by 41.7% in the 4th quarter. Prosperity Wealth Management Inc. now owns 23,719 shares of the ride-sharing company’s stock valued at $1,431,000 after purchasing an additional 6,981 shares during the last quarter. Wealthfront Advisers LLC raised its position in Uber Technologies by 8.7% in the 4th quarter. Wealthfront Advisers LLC now owns 239,433 shares of the ride-sharing company’s stock valued at $14,443,000 after purchasing an additional 19,239 shares during the last quarter. Markel Group Inc. raised its position in Uber Technologies by 23.9% in the 4th quarter. Markel Group Inc. now owns 109,000 shares of the ride-sharing company’s stock valued at $6,575,000 after purchasing an additional 21,000 shares during the last quarter. Miller Financial Services LLC bought a new position in Uber Technologies in the 4th quarter valued at $1,597,000. Finally, SPX Gestao de Recursos Ltda bought a new position in Uber Technologies in the 4th quarter valued at $2,714,000. 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.