Uber Technologies (NYSE:UBER) Given “Market Outperform” Rating at JMP Securities

Uber Technologies (NYSE:UBER)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $80.00 price target on the ride-sharing company’s stock. JMP Securities’ price objective indicates a potential upside of 19.62% from the stock’s previous close.

A number of other brokerages have also commented on UBER. Jefferies Financial Group dropped their target price on Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Gordon Haskett lowered shares of Uber Technologies from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Wednesday, January 24th. Piper Sandler boosted their target price on shares of Uber Technologies from $78.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Argus upped their price target on shares of Uber Technologies from $69.00 to $95.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Truist Financial boosted their price objective on Uber Technologies from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.59.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $0.26 during midday trading on Thursday, hitting $66.88. The company had a trading volume of 9,956,505 shares, compared to its average volume of 20,421,623. The stock has a market cap of $139.75 billion, a price-to-earnings ratio of 107.95, a PEG ratio of 1.08 and a beta of 1.39. Uber Technologies has a 12-month low of $37.07 and a 12-month high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $73.47 and a 200 day simple moving average of $66.68.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. Uber Technologies’s revenue was up 14.8% on a year-over-year basis. As a group, analysts predict that Uber Technologies will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tony West sold 18,750 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

Large investors have recently bought and sold shares of the business. New York State Teachers Retirement System lifted its stake in shares of Uber Technologies by 70.3% in the 3rd quarter. New York State Teachers Retirement System now owns 40,163 shares of the ride-sharing company’s stock worth $1,847,000 after acquiring an additional 16,576 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Uber Technologies by 4.6% in the 3rd quarter. Yousif Capital Management LLC now owns 26,555 shares of the ride-sharing company’s stock valued at $1,221,000 after buying an additional 1,165 shares during the period. Fifth Third Bancorp boosted its stake in shares of Uber Technologies by 637.2% in the third quarter. Fifth Third Bancorp now owns 44,647 shares of the ride-sharing company’s stock valued at $2,053,000 after buying an additional 38,591 shares in the last quarter. Allworth Financial LP grew its holdings in Uber Technologies by 62.8% during the third quarter. Allworth Financial LP now owns 13,878 shares of the ride-sharing company’s stock worth $638,000 after acquiring an additional 5,352 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Uber Technologies by 67.1% in the third quarter. Teacher Retirement System of Texas now owns 357,400 shares of the ride-sharing company’s stock valued at $16,437,000 after acquiring an additional 143,541 shares during the period. 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.