Uber Technologies (NYSE:UBER) Lifted to “Buy” at Cfra

Uber Technologies (NYSE:UBER) was upgraded by Cfra from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $36.00 price target on the ride-sharing company’s stock, up from their prior price target of $34.00. Cfra’s price objective would suggest a potential upside of 9.79% from the company’s current price.

A number of other research analysts have also issued reports on the company. KeyCorp reduced their price target on Uber Technologies from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Royal Bank of Canada boosted their price target on Uber Technologies from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank reduced their price target on Uber Technologies from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, March 20th. JPMorgan Chase & Co. boosted their price objective on Uber Technologies from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, DA Davidson raised Uber Technologies from a “neutral” rating to a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and forty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $43.42.

UBER stock traded up $1.86 during trading on Friday, reaching $32.79. 69,500,445 shares of the company’s stock were exchanged, compared to its average volume of 36,668,078. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.49. Uber Technologies has a 1-year low of $13.71 and a 1-year high of $47.08. The company’s fifty day moving average price is $26.27 and its 200-day moving average price is $30.82. The firm has a market cap of $47.96 billion and a PE ratio of -3.95.

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Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported ($0.64) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.15. Uber Technologies had a negative return on equity of 89.29% and a negative net margin of 60.13%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the firm posted ($2.26) EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Uber Technologies will post -2.56 earnings per share for the current fiscal year.

In other news, Director Garrett Camp sold 170,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $39.86, for a total transaction of $6,776,200.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 2,040,000 shares of company stock worth $60,171,500 in the last quarter. 8.66% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. GenTrust LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $518,000. Macquarie Group Ltd. grew its stake in Uber Technologies by 45.7% in the fourth quarter. Macquarie Group Ltd. now owns 443,433 shares of the ride-sharing company’s stock valued at $13,188,000 after purchasing an additional 139,118 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Uber Technologies in the fourth quarter valued at about $1,044,000. Bristlecone Advisors LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $3,642,000. Finally, Lake Street Financial LLC grew its stake in Uber Technologies by 349.5% in the fourth quarter. Lake Street Financial LLC now owns 35,619 shares of the ride-sharing company’s stock valued at $1,059,000 after purchasing an additional 27,694 shares in the last quarter. Hedge funds and other institutional investors own 58.78% 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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Analyst Recommendations for Uber Technologies (NYSE:UBER)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

6 Stocks to Help You Profit Off the Coronavirus PPE Boom

Every major global event brings with it changes to our national lexicon. Before the Covid-19 pandemic, few Americans knew what the initials PPE stood for. Today, virtually anyone knows that PPE stands for personal protective equipment.

At the onset of the mitigation policies, the goal of flattening the curve was being done to prevent our health care system from becoming overwhelmed. Part of that concern stemmed from a shortage of personal protective equipment. These are the masks, gloves, goggles and gowns that help protect medical workers against viral or bacterial infections.

As the novel coronavirus became labeled a global pandemic, the global mantra became to “flatten the curve” in an effort to prevent our healthcare system from being overwhelmed.

The United States is being referred to as being on a war time footing. Manufacturers that were already producing PPE have significantly ramped up capacity. And many companies are converting their excess manufacturing capacity to produce personal protective equipment.

In fairness, this may only be a reason for some of these companies to “keep the lights on” right now. But many of these companies have a good story to tell. And it’s that story that can make them solid investments in the future.

View the “6 Stocks to Help You Profit Off the Coronavirus PPE Boom”.


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