Uber Technologies' (UBER) "Neutral" Rating Reaffirmed at Wedbush

Key Points

• Wedbush analysts have reiterated a "neutral" rating for Uber Technologies (UBER), with a current price objective set at $85.00, indicating a potential downside of 1.02% from its previous close.
• The stock is currently trading at $85.88 with a market capitalization of $179.59 billion, and has seen a significant trading volume of 1,763,298 shares.
• Currently, the consensus rating for Uber is a "Moderate Buy" with an average target price of $100.71, with 29 analysts rating it as a buy while 10 maintain a hold rating.

Uber Technologies (NYSE:UBER - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Wedbush in a report issued on Friday,Benzinga reports. They presently have a $85.00 price objective on the ride-sharing company's stock. Wedbush's price target would indicate a potential downside of 1.02% from the stock's previous close.

Other analysts have also issued reports about the company. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. The Goldman Sachs Group boosted their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Raymond James Financial cut shares of Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. KeyCorp upped their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, DA Davidson upped their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $100.71.

Uber Technologies Stock Performance

Shares of NYSE UBER traded down $1.87 during trading hours on Friday, reaching $85.88. 1,763,298 shares of the stock were exchanged, compared to its average volume of 22,134,564. The firm has a market capitalization of $179.59 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.01 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $97.71. The stock's fifty day simple moving average is $89.14 and its 200 day simple moving average is $80.14.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) earnings per share. Sell-side analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,496,071 in the last 90 days. Company insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in UBER. Banco Santander S.A. grew its stake in Uber Technologies by 31.1% in the 2nd quarter. Banco Santander S.A. now owns 453,097 shares of the ride-sharing company's stock valued at $42,274,000 after acquiring an additional 107,568 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Uber Technologies by 8.8% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 70,095 shares of the ride-sharing company's stock valued at $6,540,000 after acquiring an additional 5,660 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Uber Technologies by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,256,525 shares of the ride-sharing company's stock valued at $397,132,000 after acquiring an additional 112,732 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in Uber Technologies by 44.4% in the 2nd quarter. Resonant Capital Advisors LLC now owns 5,992 shares of the ride-sharing company's stock valued at $559,000 after acquiring an additional 1,843 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its stake in Uber Technologies by 9.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 306,330 shares of the ride-sharing company's stock valued at $28,581,000 after acquiring an additional 25,709 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.

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