JPMorgan Chase & Co. Cuts Uber Technologies (NYSE:UBER) Price Target to $90.00

Uber Technologies (NYSE:UBER) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $95.00 to $90.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the ride-sharing company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.38% from the stock’s previous close.

A number of other research firms have also weighed in on UBER. Jefferies Financial Group upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Truist Financial decreased their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research note on Thursday. Finally, Evercore ISI reduced their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Uber Technologies Trading Up 6.8 %

Shares of Uber Technologies stock opened at $74.76 on Thursday. The stock has a market capitalization of $157.43 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The stock has a 50 day moving average price of $65.28 and a two-hundred day moving average price of $70.07. 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 (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. As a group, equities analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was 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 accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of UBER. Jennison Associates LLC increased its holdings in shares of Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Assenagon Asset Management S.A. increased its stake in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Uber Technologies in the 4th quarter valued at about $166,072,000. Edgewood Management LLC boosted its position in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of Uber Technologies during the third quarter worth about $163,468,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.