Weiss Ratings Reaffirms "Buy (B-)" Rating for Uber Technologies (NYSE:UBER)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Uber Technologies (NYSE: UBER), indicating confidence in the company's stock performance.
• Uber's target price estimates by various analysts range significantly, with Royal Bank of Canada and Piper Sandler setting targets at $100.00 and $103.00, respectively, while others like Canaccord Genuity have reduced their target to $84.00.
• Uber reported earnings of $0.63 per share for the last quarter, surpassing estimates, with a revenue of $12.65 billion, reflecting an 18.2% increase year-over-year.

Uber Technologies (NYSE:UBER - Get Free Report)'s stock had its "buy (b-)" rating restated by analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

A number of other brokerages have also recently commented on UBER. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Royal Bank Of Canada lifted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler lifted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Wedbush decreased their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $104.03.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $0.74 during mid-day trading on Tuesday, reaching $94.82. 4,826,749 shares of the company were exchanged, compared to its average volume of 20,998,139. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $197.74 billion, a PE ratio of 16.14 and a beta of 1.48. The company's 50 day moving average price is $94.98 and its 200 day moving average price is $88.15.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. Sell-side analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 601,821 shares of company stock valued at $58,659,491. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Kilter Group LLC purchased a new position in shares of Uber Technologies during the second quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in Uber Technologies during the first quarter worth about $27,000. West Oak Capital LLC bought a new stake in Uber Technologies during the second quarter worth about $28,000. Truvestments Capital LLC boosted its stake in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after acquiring an additional 339 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the second quarter worth about $30,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

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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