Wells Fargo & Company Lowers Uber Technologies (NYSE:UBER) Price Target to $87.00

Uber Technologies (NYSE:UBER) had its target price reduced by analysts at Wells Fargo & Company from $90.00 to $87.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.37% from the company’s previous close.

Several other analysts have also recently weighed in on UBER. Loop Capital boosted their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Friday, January 31st. Wolfe Research increased their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Tigress Financial increased their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler cut their price target on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.19.

Uber Technologies Price Performance

Uber Technologies stock opened at $74.76 on Thursday. The stock has a fifty day moving average of $65.28 and a 200-day moving average of $70.07. The stock has a market capitalization of $157.43 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. On average, sell-side analysts expect that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Ascent Wealth Partners LLC bought a new position in Uber Technologies in the 3rd quarter valued at approximately $2,087,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Uber Technologies by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after buying an additional 13,433 shares during the last quarter. Aviso Wealth Management bought a new stake in Uber Technologies in the 3rd quarter worth about $2,302,000. Polianta Ltd bought a new position in Uber Technologies during the 4th quarter valued at about $1,206,000. Finally, Brophy Wealth Management LLC purchased a new position in shares of Uber Technologies during the third quarter valued at approximately $1,041,000. 80.24% of the stock is currently owned by institutional investors.

About Uber Technologies

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.