Uber Technologies’ (UBER) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Uber Technologies (NYSE:UBER) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $82.00 price objective on the ride-sharing company’s stock.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Thursday, October 31st. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Truist Financial cut their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Piper Sandler reduced their price target on Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.19.

Uber Technologies Trading Up 8.6 %

Shares of NYSE UBER opened at $70.04 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50-day moving average of $65.31 and a 200 day moving average of $70.07. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00. The stock has a market cap of $147.47 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share 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, sell-side analysts expect that Uber Technologies will post 1.89 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’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 value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Jennison Associates LLC lifted its stake in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Assenagon Asset Management S.A. raised its holdings in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Uber Technologies in the fourth quarter valued at about $166,072,000. Edgewood Management LLC boosted its holdings in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Uber Technologies during the 3rd quarter worth approximately $163,468,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.