Royal Bank of Canada Reaffirms “Outperform” Rating for Uber Technologies (NYSE:UBER)

Uber Technologies (NYSE:UBER)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $82.00 target price on the ride-sharing company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.68% from the company’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their price target on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a report on Friday, October 11th. Truist Financial lowered their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Piper Sandler cut their price objective on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Evercore ISI lowered their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.19.

Uber Technologies Price Performance

Shares of UBER stock opened at $74.76 on Thursday. The company has a market capitalization of $157.43 billion, a P/E ratio of 37.20, a P/E/G ratio of 0.77 and a beta of 1.39. The company’s 50-day simple moving average is $65.28 and its two-hundred day simple moving average is $70.07. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. As a group, equities analysts anticipate that Uber Technologies will post 1.89 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Avion Wealth raised its position in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in shares of Uber Technologies in the 4th quarter valued at $35,000. Finally, Financial Management Professionals Inc. boosted its holdings in Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds 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.