Cantor Fitzgerald Reaffirms Overweight Rating for Uber Technologies (NYSE:UBER)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Uber Technologies (NYSE:UBER) in a report released on Monday morning, Benzinga reports. They currently have a $90.00 price objective on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. DA Davidson raised their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Truist Financial reissued a buy rating and set a $88.00 target price on shares of Uber Technologies in a report on Friday, September 6th. Citigroup raised their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $87.67.

Uber Technologies Trading Down 0.4 %

Shares of UBER stock opened at $77.13 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The firm has a market cap of $162.05 billion, a P/E ratio of 124.40, a PEG ratio of 1.33 and a beta of 1.33. The company has a 50 day moving average of $69.88 and a 200-day moving average of $70.66. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Sell-side analysts anticipate that Uber Technologies will post 1.06 earnings per share for the current year.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’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 transaction of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, valued at $9,169,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 34.8% during the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after buying an additional 43,275,830 shares during the period. Edgewood Management LLC bought a new position in Uber Technologies in the 4th quarter worth $783,401,000. Price T Rowe Associates Inc. MD raised its holdings in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC lifted its position in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after purchasing an additional 9,541,366 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Uber Technologies by 28.4% during the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after purchasing an additional 8,164,816 shares in the last quarter. Hedge funds and other 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.