Uber Technologies (NYSE:UBER) Stock Rated Buy in New Coverage at Citigroup

Equities research analysts at Citigroup assumed coverage on shares of Uber Technologies (NYSE:UBER) in a research note issued on Monday, Benzinga reports. The firm set a “buy” rating and a $105.00 price target on the ride-sharing company’s stock. Citigroup‘s price target would indicate a potential upside of 52.99% from the stock’s current price.

A number of other brokerages also recently issued reports on UBER. Oppenheimer cut their price objective on Uber Technologies from $100.00 to $90.00 in a research report on Tuesday, August 4th. Scotiabank started coverage on Uber Technologies in a report on Wednesday, September 9th. They issued a “sector outperform” rating and a $100.00 price objective on the stock. Mizuho set a $112.00 price target on shares of Uber Technologies and gave the stock an “outperform” rating in a research note on Thursday, August 6th. BTIG Research dropped their price target on shares of Uber Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Finally, BNP Paribas Exane cut their price objective on Uber Technologies from $108.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, forty-four have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.02.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $68.63 on Monday. The business’s 50 day moving average price is $70.14 and its 200 day moving average price is $73.03. The company has a market cap of $140.18 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 8.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. Uber Technologies has a one year low of $64.04 and a one year high of $95.18.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. The company had revenue of $14.77 billion during the quarter, compared to analysts’ expectations of $14.66 billion. During the same period in the prior year, the business earned $3.11 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that Uber Technologies will post 3.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 28,170 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $71.31, for a total transaction of $2,008,802.70. Following the completion of the sale, the insider owned 149,525 shares in the company, valued at $10,662,627.75. This represents a 15.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi acquired 141,000 shares of the stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $70.96 per share, for a total transaction of $10,005,360.00. Following the completion of the transaction, the chief executive officer directly owned 1,367,100 shares in the company, valued at $97,009,416. The trade was a 11.50% increase in their position. The SEC filing for this purchase provides additional information. 3.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC acquired a new position in Uber Technologies in the second quarter valued at approximately $28,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Uber Technologies in the second quarter worth $29,000. William Mack & Associates Inc. bought a new position in Uber Technologies in the 3rd quarter valued at about $28,000. Elevation Wealth Partners LLC increased its stake in shares of Uber Technologies by 209.8% during the second quarter. Elevation Wealth Partners LLC now owns 409 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 277 shares during the period. Finally, Balance Wealth Partners LLC acquired a new position in shares of Uber Technologies during the 3rd quarter valued at $29,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

About Uber Technologies

Uber Technologies, Inc operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats.

The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.

Founded in San Francisco in 2009 as UberCab, the company expanded from ride-hailing into delivery and freight.