Uber Technologies (NYSE:UBER) Price Target Raised to $96.00

Uber Technologies (NYSE:UBER) had its price target boosted by Bank of America from $88.00 to $96.00 in a research note released on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the ride-sharing company’s stock.

UBER has been the topic of a number of other research reports. Raymond James started coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Loop Capital boosted their price objective on shares of Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. JMP Securities upped their price target on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of Uber Technologies in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.86.

Uber Technologies Stock Down 1.0 %

UBER opened at $77.61 on Wednesday. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $87.00. The firm has a market cap of $162.17 billion, a P/E ratio of 125.18, a PEG ratio of 1.40 and a beta of 1.33. The business’s fifty day simple moving average is $75.09 and its 200 day simple moving average is $70.83. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. As a group, equities research analysts anticipate that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Brookstone Capital Management increased its stake in Uber Technologies by 4.0% during the 1st quarter. Brookstone Capital Management now owns 135,680 shares of the ride-sharing company’s stock worth $10,446,000 after acquiring an additional 5,160 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Uber Technologies during the first quarter worth about $154,000. DGS Capital Management LLC bought a new position in shares of Uber Technologies in the first quarter worth about $252,000. Wealth Enhancement Advisory Services LLC lifted its stake in Uber Technologies by 14.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 182,700 shares of the ride-sharing company’s stock valued at $14,066,000 after purchasing an additional 22,709 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Uber Technologies during the 1st quarter valued at $246,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Company Profile

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.