Royal Bank of Canada Reiterates “Outperform” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They currently have a $80.00 target price on the ride-sharing company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.27% from the stock’s previous close.

A number of other brokerages also recently issued reports on UBER. Moffett Nathanson reiterated a “buy” rating and issued a $92.00 price target on shares of Uber Technologies in a report on Thursday, April 11th. Piper Sandler boosted their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Tigress Financial boosted their price objective on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a report on Friday, April 19th. Melius Research initiated coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, June 5th. Four investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.26.

Uber Technologies Trading Up 4.3 %

UBER stock traded up $2.77 during midday trading on Wednesday, reaching $67.64. 17,625,687 shares of the company traded hands, compared to its average volume of 19,205,568. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $82.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The business has a 50 day moving average of $68.28 and a 200-day moving average of $70.98. The firm has a market capitalization of $141.34 billion, a price-to-earnings ratio of 109.48, a P/E/G ratio of 1.32 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Uber Technologies will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tony West sold 89,234 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the transaction, the insider now directly owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock worth $78,213,297 in the last quarter. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Several institutional investors have recently made changes to their positions in UBER. Stratos Wealth Advisors LLC bought a new stake in shares of Uber Technologies in the 4th quarter valued at about $236,000. Bleakley Financial Group LLC raised its stake in shares of Uber Technologies by 7.4% during the 4th quarter. Bleakley Financial Group LLC now owns 29,104 shares of the ride-sharing company’s stock worth $1,792,000 after acquiring an additional 2,006 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Uber Technologies by 6.5% during the 4th quarter. Strategic Blueprint LLC now owns 6,603 shares of the ride-sharing company’s stock worth $407,000 after acquiring an additional 405 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Uber Technologies by 23.4% during the 4th quarter. International Assets Investment Management LLC now owns 11,739 shares of the ride-sharing company’s stock worth $723,000 after acquiring an additional 2,225 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in shares of Uber Technologies by 48.3% during the 4th quarter. HBK Sorce Advisory LLC now owns 12,482 shares of the ride-sharing company’s stock worth $769,000 after acquiring an additional 4,064 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.