Needham & Company LLC Reiterates "Buy" Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $90.00 target price on the ride-sharing company's stock. Needham & Company LLC's target price would indicate a potential upside of 39.13% from the stock's previous close.

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UBER has been the subject of a number of other reports. Arete Research upgraded Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada restated an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Piper Sandler reissued an "overweight" rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Wolfe Research boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, Truist Financial increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.03.

View Our Latest Stock Report on Uber Technologies

Uber Technologies Price Performance

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Shares of UBER opened at $64.69 on Wednesday. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market capitalization of $135.31 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.89 and a beta of 1.37. The business's 50-day moving average is $73.57 and its 200-day moving average is $71.56.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Equities research analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

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In other news, insider Tony West sold 23,404 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares of the company's stock, valued at $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,154 shares of company stock valued at $5,793,869. Company insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC lifted its position in Uber Technologies by 11.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 39,635 shares of the ride-sharing company's stock worth $2,979,000 after buying an additional 3,981 shares in the last quarter. M&T Bank Corp raised its holdings in Uber Technologies by 4.8% during the third quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company's stock worth $13,161,000 after acquiring an additional 7,968 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Uber Technologies by 50.3% during the third quarter. Coldstream Capital Management Inc. now owns 24,397 shares of the ride-sharing company's stock valued at $1,805,000 after purchasing an additional 8,168 shares during the last quarter. Wilson & Boucher Capital Management LLC acquired a new position in Uber Technologies during the third quarter valued at approximately $237,000. Finally, Chiron Investment Management LLC grew its stake in Uber Technologies by 21.4% in the third quarter. Chiron Investment Management LLC now owns 101,420 shares of the ride-sharing company's stock valued at $7,623,000 after purchasing an additional 17,881 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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