Uber Technologies (NYSE:UBER) Price Target Cut to $80.00 by Analysts at Piper Sandler

Uber Technologies (NYSE:UBER) had its price objective reduced by Piper Sandler from $82.00 to $80.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Royal Bank of Canada boosted their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Tigress Financial boosted their price objective on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.19.

Uber Technologies Price Performance

UBER opened at $70.04 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $65.31 and its 200 day moving average price is $70.07. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market cap of $147.47 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last announced its quarterly 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 return on equity of 33.46% and a net margin of 10.49%. As a group, sell-side analysts expect that Uber Technologies will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vestmark Advisory Solutions Inc. lifted its stake in Uber Technologies by 10.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 15,280 shares of the ride-sharing company’s stock worth $922,000 after acquiring an additional 1,403 shares in the last quarter. Ethos Financial Group LLC acquired a new position in shares of Uber Technologies in the 4th quarter valued at about $156,000. Carmel Capital Partners LLC lifted its position in shares of Uber Technologies by 110.1% in the fourth quarter. Carmel Capital Partners LLC now owns 28,615 shares of the ride-sharing company’s stock worth $1,726,000 after purchasing an additional 14,998 shares in the last quarter. HS Management Partners LLC lifted its position in shares of Uber Technologies by 149.4% in the fourth quarter. HS Management Partners LLC now owns 1,118,950 shares of the ride-sharing company’s stock worth $67,495,000 after purchasing an additional 670,345 shares in the last quarter. Finally, Black Swift Group LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $820,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.