Aurora Innovation (NASDAQ:AUR) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Aurora Innovation (NASDAQ:AUR) in a research note released on Monday morning, Marketbeat reports. The firm issued an overweight rating and a $12.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI increased their target price on Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a report on Tuesday, February 18th. Canaccord Genuity Group increased their target price on Aurora Innovation from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group increased their price target on Aurora Innovation from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Aurora Innovation in a research report on Thursday, February 13th. Finally, Wolfe Research assumed coverage on Aurora Innovation in a research report on Tuesday, November 26th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.42.

Aurora Innovation Stock Performance

Aurora Innovation stock opened at $7.24 on Monday. Aurora Innovation has a 52-week low of $2.10 and a 52-week high of $10.77. The stock’s 50 day moving average price is $7.24 and its two-hundred day moving average price is $6.25. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of -15.40 and a beta of 2.85.

Aurora Innovation (NASDAQ:AUR) last issued its earnings results on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter. On average, equities research analysts forecast that Aurora Innovation will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Aurora Innovation

Several large investors have recently made changes to their positions in AUR. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation during the 4th quarter valued at $2,053,632,000. Toyota Motor Corp purchased a new stake in shares of Aurora Innovation during the 4th quarter valued at $298,294,000. Baillie Gifford & Co. increased its position in shares of Aurora Innovation by 17.2% during the 3rd quarter. Baillie Gifford & Co. now owns 84,904,647 shares of the company’s stock valued at $502,636,000 after purchasing an additional 12,466,085 shares during the last quarter. Lightspeed Management Company L.L.C. purchased a new stake in shares of Aurora Innovation during the 4th quarter valued at $74,003,000. Finally, FMR LLC increased its position in shares of Aurora Innovation by 206.1% during the 3rd quarter. FMR LLC now owns 13,848,530 shares of the company’s stock valued at $81,983,000 after purchasing an additional 9,325,013 shares during the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.