Uber Technologies’ (UBER) Buy Rating Reiterated at Barclays

Uber Technologies (NYSE:UBER)‘s stock had its “buy” rating reissued by equities researchers at Barclays in a note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $44.00 price objective on the ride-sharing company’s stock. Barclays‘s price objective indicates a potential upside of 19.57% from the stock’s previous close.

Several other equities analysts also recently commented on UBER. Raymond James reissued a “buy” rating and set a $54.00 target price on shares of Uber Technologies in a research report on Monday, December 16th. Wells Fargo & Co assumed coverage on shares of Uber Technologies in a research report on Thursday, September 26th. They set a “market perform” rating and a $41.00 target price on the stock. Cowen reissued a “buy” rating and set a $60.00 target price on shares of Uber Technologies in a research report on Tuesday, November 26th. Royal Bank of Canada increased their target price on shares of Uber Technologies from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Bernstein Bank initiated coverage on shares of Uber Technologies in a report on Friday, January 10th. They set an “outperform” rating and a $40.00 price target for the company. Eleven analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.33.

Uber Technologies stock opened at $36.80 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.82 and a quick ratio of 2.82. Uber Technologies has a one year low of $25.58 and a one year high of $47.08. The company’s fifty day moving average price is $31.64 and its two-hundred day moving average price is $33.39.

Uber Technologies (NYSE:UBER) last posted its earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.15. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.68 billion. Uber Technologies had a negative net margin of 63.57% and a negative return on equity of 209.48%. Uber Technologies’s revenue was up 29.5% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies will post -6.75 EPS for the current year.

In related news, insider Manik Gupta sold 1,657 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $27.04, for a total value of $44,805.28. Following the completion of the sale, the insider now owns 453,443 shares in the company, valued at $12,261,098.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Garrett Camp sold 170,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $37.44, for a total transaction of $6,364,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,250,823 shares of company stock valued at $1,806,932,775.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Uber Technologies in the second quarter worth about $1,020,876,000. Vanguard Group Inc. acquired a new position in Uber Technologies in the second quarter worth about $456,791,000. OZ Management LP acquired a new position in Uber Technologies in the second quarter worth about $289,124,000. Price T Rowe Associates Inc. MD acquired a new position in Uber Technologies in the second quarter worth about $250,238,000. Finally, ICONIQ Capital LLC raised its position in Uber Technologies by 26.7% in the third quarter. ICONIQ Capital LLC now owns 20,143,943 shares of the ride-sharing company’s stock worth $613,786,000 after purchasing an additional 4,247,004 shares in the last quarter. Institutional investors and hedge funds own 45.02% of the company’s stock.

About Uber Technologies

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.

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