Raymond James Begins Coverage on Uber Technologies (NYSE:UBER)

Raymond James initiated coverage on shares of Uber Technologies (NYSE:UBER) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a strong-buy rating and a $90.00 price objective on the ride-sharing company’s stock.

Other research analysts have also issued research reports about the stock. DA Davidson raised their price target 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. Royal Bank of Canada restated an outperform rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Roth Mkm raised their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Bank of America restated a buy rating and set a $88.00 price target on shares of Uber Technologies in a report on Friday, August 23rd. Finally, Melius began coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a hold rating and a $77.00 price target for the company. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of Moderate Buy and an average target price of $87.67.

Uber Technologies Stock Down 0.6 %

NYSE:UBER opened at $76.69 on Tuesday. The firm’s 50 day simple moving average is $69.88 and its 200 day simple moving average is $70.66. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies has a one year low of $40.09 and a one year high of $82.14. The company has a market cap of $161.11 billion, a PE ratio of 123.69, a P/E/G ratio of 1.38 and a beta of 1.33.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its stake in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. Financial Management Professionals Inc. raised its stake in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the period. WR Wealth Planners LLC raised its stake in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp bought a new stake in Uber Technologies in the 1st quarter valued at about $32,000. Finally, MCF Advisors LLC raised its stake in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. 80.24% of the stock is owned by hedge funds and other 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.