Uber Technologies (NYSE:UBER) Price Target Raised to $90.00

Uber Technologies (NYSE:UBER) had its price target lifted by research analysts at Wells Fargo & Company from $87.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 26.44% from the stock’s previous close.

UBER has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Truist Financial lifted their price target on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.41.

Uber Technologies Trading Down 4.6 %

Shares of UBER stock traded down $3.40 during trading hours on Thursday, hitting $71.10. 11,149,218 shares of the company’s stock traded hands, compared to its average volume of 23,543,775. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $73.80 and its 200 day simple moving average is $71.82. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00. The stock has a market cap of $148.73 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, sell-side analysts anticipate that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock valued at $5,793,869 over the last 90 days. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently bought and sold shares of the company. Avion Wealth increased its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares during the period. Transce3nd LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $28,000. Finally, GHP Investment Advisors Inc. grew its holdings in Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 223 shares during the period. 80.24% of the stock is 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.