Uber Technologies (NYSE:UBER) Rating Lowered to "Neutral" at Wedbush

Uber Technologies (NYSE:UBER - Get Free Report) was downgraded by equities research analysts at Wedbush from an "outperform" rating to a "neutral" rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $85.00 price target on the ride-sharing company's stock. Wedbush's price target points to a potential upside of 1.11% from the stock's current price.

UBER has been the topic of several other reports. UBS Group reissued a "buy" rating on shares of Uber Technologies in a research report on Friday, February 21st. DA Davidson increased their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a report on Thursday. Citigroup lowered their target price on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Truist Financial upped their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Uber Technologies from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $90.39.

Uber Technologies Price Performance

NYSE UBER opened at $84.07 on Thursday. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The business has a 50 day simple moving average of $74.42 and a 200 day simple moving average of $71.56. The stock has a market cap of $175.86 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Uber Technologies's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) EPS. Analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares of the company's stock, valued at $8,027,715.07. This represents a 17.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company's stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,904 shares of company stock worth $6,027,619 in the last 90 days. Corporate insiders own 3.84% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Uber Technologies by 7.1% during the third quarter. Principal Financial Group Inc. now owns 2,460,332 shares of the ride-sharing company's stock worth $184,919,000 after buying an additional 162,528 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Uber Technologies by 3.7% in the fourth quarter. Diversified Trust Co now owns 15,667 shares of the ride-sharing company's stock valued at $945,000 after purchasing an additional 557 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Uber Technologies by 86.5% during the fourth quarter. Fulton Bank N.A. now owns 22,337 shares of the ride-sharing company's stock valued at $1,347,000 after buying an additional 10,357 shares during the last quarter. Watts Gwilliam & Co. LLC grew its holdings in Uber Technologies by 537.1% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 72,943 shares of the ride-sharing company's stock worth $4,825,000 after buying an additional 61,494 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Uber Technologies by 32.1% during the 4th quarter. Fortitude Family Office LLC now owns 795 shares of the ride-sharing company's stock valued at $48,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

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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