[By William Newman]
Uber Technologies (NYSE:UBER)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, October 23rd, AnalystRatings.com reports. They currently have a $50.00 target price on the ride-sharing company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 86.64% from the company’s current price.
A number of other brokerages also recently issued reports on UBER. Argus started coverage on Uber Technologies in a research report on Thursday, September 12th. They issued a “hold” rating on the stock. They noted that the move was a valuation call. JMP Securities restated an “outperform” rating on shares of Uber Technologies in a research report on Tuesday, August 13th. HSBC upgraded Uber Technologies from a “hold” rating to a “buy” rating and lowered their price target for the company from $49.00 to $44.00 in a research report on Monday, September 16th. Raymond James set a $54.00 price target on Uber Technologies and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Macquarie set a $51.00 price target on Uber Technologies and gave the company a “buy” rating in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $50.26.
NYSE UBER traded up $0.80 on Wednesday, hitting $26.79. 40,835,270 shares of the stock traded hands, compared to its average volume of 29,077,308. Uber Technologies has a 12 month low of $25.58 and a 12 month high of $47.08. The stock’s fifty day simple moving average is $30.32. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.46.
Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.83) by $0.15. Uber Technologies had a negative return on equity of 209.48% and a negative net margin of 63.57%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.68 billion. Uber Technologies’s revenue was up 29.5% compared to the same quarter last year. Analysts forecast that Uber Technologies will post -6.84 EPS for the current year.
In other Uber Technologies news, insider Manik Gupta sold 15,188 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.01, for a total transaction of $410,227.88. Also, Director Travis Cordell Kalanick sold 20,264,846 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $27.01, for a total transaction of $547,353,490.46. Following the sale, the director now owns 46,154 shares of the company’s stock, valued at $1,246,619.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,944,057 shares of company stock valued at $592,122,803.
Institutional investors and hedge funds have recently made changes to their positions in the business. DNB Asset Management AS purchased a new stake in shares of Uber Technologies in the 2nd quarter worth $1,109,000. Equitec Specialists LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter worth $116,000. Zions Bancorporation N.A. purchased a new stake in shares of Uber Technologies in the 2nd quarter worth $149,000. Gulf International Bank UK Ltd purchased a new stake in shares of Uber Technologies in the 2nd quarter worth $2,356,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter worth $5,508,000. Institutional investors and hedge funds own 45.32% of the company’s stock.
Uber Technologies Company Profile
Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.