Uber Technologies (NYSE:UBER) Receives Buy Rating from Morgan Stanley

Morgan Stanley restated their buy rating on shares of Uber Technologies (NYSE:UBER) in a report published on Monday morning, Stock Target Advisor reports. The firm currently has a $55.00 target price on the ride-sharing company’s stock.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Uber Technologies from a strong-buy rating to a hold rating and set a $38.00 price target on the stock. in a report on Friday, October 25th. Oppenheimer set a $55.00 price objective on shares of Uber Technologies and gave the stock a buy rating in a research note on Friday, August 9th. Macquarie set a $51.00 price objective on shares of Uber Technologies and gave the stock a buy rating in a research note on Monday, September 30th. Argus raised shares of Uber Technologies from a hold rating to a buy rating and set a $35.00 price objective for the company in a research note on Thursday, November 14th. Finally, JMP Securities reaffirmed an outperform rating on shares of Uber Technologies in a research note on Tuesday, August 13th. Eleven research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $50.26.

Shares of NYSE UBER traded up $0.30 during mid-day trading on Monday, reaching $27.05. The company had a trading volume of 31,983,010 shares, compared to its average volume of 15,138,026. The stock’s 50-day moving average price is $30.06. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.46. Uber Technologies has a 52 week low of $25.58 and a 52 week high of $47.08.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.83) by $0.15. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Uber Technologies had a negative net margin of 63.57% and a negative return on equity of 209.48%. The firm’s revenue was up 29.5% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies will post -6.84 earnings per share for the current year.

In related news, Director Travis Cordell Kalanick sold 20,264,846 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $27.01, for a total value of $547,353,490.46. Following the completion of the transaction, the director now directly owns 46,154 shares of the company’s stock, valued at approximately $1,246,619.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Manik Gupta sold 15,188 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.01, for a total transaction of $410,227.88. Over the last three months, insiders have sold 27,735,787 shares of company stock valued at $746,580,145.

Institutional investors have recently made changes to their positions in the stock. AE Wealth Management LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $564,000. Westpac Banking Corp purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $690,000. Creative Planning purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $482,000. Pictet Asset Management Ltd. purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $2,712,000. Finally, Quad Cities Investment Group LLC raised its position in shares of Uber Technologies by 47.8% in the 3rd quarter. Quad Cities Investment Group LLC now owns 3,400 shares of the ride-sharing company’s stock valued at $102,000 after purchasing an additional 1,100 shares during the last quarter. 45.09% of the stock is owned by hedge funds and other institutional investors.

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)

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