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

Uber Technologies (NYSE:UBER) had its price target boosted by Wells Fargo & Company from $87.00 to $90.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, February 5th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a research note on Thursday, February 6th. Truist Financial increased their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research report on Thursday, January 2nd. Ten equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Trading Down 7.7 %

Shares of UBER stock opened at $64.50 on Thursday. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a 50 day moving average price of $73.75 and a 200 day moving average price of $71.75. The stock has a market capitalization of $134.92 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results 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%. Equities research analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % 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 worth $5,793,869 over the last three months. 3.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares during the last quarter. Polianta Ltd purchased a new stake in Uber Technologies during the 4th quarter worth about $1,206,000. Allworth Financial LP raised its stake in Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Brophy Wealth Management LLC purchased a new position in Uber Technologies in the 3rd quarter valued at about $1,041,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $3,188,000. 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.