Uber Technologies (NYSE:UBER) Earns “Buy” Rating from Guggenheim

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $135.00 price target on the ride-sharing company’s stock. Guggenheim’s price target would indicate a potential upside of 60.05% from the company’s previous close.

A number of other analysts have also weighed in on UBER. TD Cowen restated a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. BNP Paribas Exane assumed coverage on shares of Uber Technologies in a report on Wednesday, January 14th. They set an “outperform” rating and a $108.00 target price for the company. DA Davidson boosted their target price on Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. KeyCorp dropped their target price on Uber Technologies from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Uber Technologies in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $107.97.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $84.35 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $85.02 and a 200 day simple moving average of $90.90. Uber Technologies has a one year low of $60.63 and a one year high of $101.99. The firm has a market capitalization of $175.26 billion, a price-to-earnings ratio of 10.89 and a beta of 1.20.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter last year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Uber Technologies will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $83.50, for a total value of $260,937.50. Following the completion of the sale, the insider owned 176,584 shares in the company, valued at approximately $14,744,764. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,875 shares of company stock valued at $1,319,130 over the last ninety days. 3.84% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Uber Technologies by 0.7% during the third quarter. Vanguard Group Inc. now owns 190,828,841 shares of the ride-sharing company’s stock valued at $18,695,502,000 after purchasing an additional 1,277,322 shares during the last quarter. Geode Capital Management LLC raised its position in Uber Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after purchasing an additional 1,168,288 shares during the last quarter. Norges Bank purchased a new stake in Uber Technologies in the second quarter worth $2,348,319,000. Northern Trust Corp increased its position in shares of Uber Technologies by 1.5% during the third quarter. Northern Trust Corp now owns 19,509,042 shares of the ride-sharing company’s stock valued at $1,911,301,000 after buying an additional 297,132 shares during the period. Finally, Capital World Investors raised its position in shares of Uber Technologies by 1.1% in the 3rd quarter. Capital World Investors now owns 17,016,467 shares of the ride-sharing company’s stock worth $1,667,121,000 after acquiring an additional 182,976 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.