Uber Technologies (NYSE:UBER) Upgraded to Overweight by KeyCorp

Posted by MarketBeat News on Nov 3rd, 2023

Uber Technologies (NYSE:UBER – Get Free Report) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Friday, Marketbeat reports. The brokerage currently has a $60.00 price target on the ride-sharing company’s stock. KeyCorp’s price target would suggest a potential upside of 29.07% from the company’s previous close.

A number of other research analysts also recently weighed in on UBER. Bank of America raised their price objective on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. DA Davidson restated a “buy” rating and issued a $62.00 price objective on shares of Uber Technologies in a research note on Monday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Uber Technologies in a research note on Tuesday, September 5th. Barclays boosted their target price on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Finally, BTIG Research raised their price target on Uber Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Thirty investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Uber Technologies has an average rating of “Buy” and a consensus target price of $55.69.

Check Out Our Latest Research Report on UBER

Uber Technologies Stock Up 6.1 %

Want More Great Investing Ideas?

Uber Technologies stock opened at $46.49 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98. Uber Technologies has a 1-year low of $23.90 and a 1-year high of $49.49. The firm’s fifty day simple moving average is $45.27 and its 200-day simple moving average is $42.59. The company has a market capitalization of $94.99 billion, a P/E ratio of -211.29 and a beta of 1.23.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.19. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the prior year, the business posted ($1.33) earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts forecast that Uber Technologies will post 0.41 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $45.05, for a total transaction of $4,505,000.00. Following the completion of the transaction, the chief financial officer now directly owns 291,807 shares in the company, valued at $13,145,905.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Several large investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Uber Technologies in the third quarter valued at about $26,000. Raleigh Capital Management Inc. raised its stake in shares of Uber Technologies by 66.5% in the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock worth $28,000 after acquiring an additional 260 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Uber Technologies during the third quarter worth approximately $28,000. SOA Wealth Advisors LLC. grew its stake in shares of Uber Technologies by 133.8% during the second quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Uber Technologies by 319.4% in the third quarter. JFS Wealth Advisors LLC now owns 650 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 495 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Uber Technologies Company Profile

(Get Free Report)

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.