Gordon Haskett Upgrades Uber Technologies (NYSE:UBER) to “Buy”

Uber Technologies (NYSE:UBER) was upgraded by analysts at Gordon Haskett from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James initiated coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Loop Capital upped their price objective on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial increased their price objective on Uber Technologies from $88.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Melius Research began coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.86.

Uber Technologies Trading Down 11.3 %

Shares of Uber Technologies stock traded down $8.99 during trading hours on Thursday, hitting $70.44. The company’s stock had a trading volume of 39,323,352 shares, compared to its average volume of 17,919,102. The company has a market capitalization of $147.99 billion, a PE ratio of 77.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a 50 day moving average of $75.40 and a 200 day moving average of $70.87. Uber Technologies has a 12 month low of $42.20 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last posted 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 analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Analysts predict that Uber Technologies will post 1.1 earnings per share for the current year.

Insider Activity at Uber Technologies

In other 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 completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the period. Capital Research Global Investors increased its stake in Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after acquiring an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC raised its position in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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.