Citigroup Cuts Uber Technologies (NYSE:UBER) Price Target to $45.00

Uber Technologies (NYSE:UBER) had its target price reduced by Citigroup from $55.00 to $45.00 in a research report released on Tuesday morning, The Fly reports. Citigroup currently has an outperform rating on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Oppenheimer set a $55.00 price target on Uber Technologies and gave the stock a buy rating in a research report on Friday, August 9th. Wedbush reduced their price target on Uber Technologies from $58.00 to $45.00 and set an outperform rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $50.00 price target on shares of Uber Technologies in a research report on Tuesday, October 22nd. HSBC raised Uber Technologies from a hold rating to a buy rating and reduced their price target for the stock from $49.00 to $44.00 in a research report on Monday, September 16th. Finally, Loop Capital reduced their price target on Uber Technologies from $54.00 to $48.00 and set a buy rating for the company in a research report on Thursday, September 12th. Twelve investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $50.75.

Shares of NYSE:UBER traded down $0.37 on Tuesday, reaching $27.01. The company had a trading volume of 42,647,543 shares, compared to its average volume of 13,990,077. Uber Technologies has a twelve month low of $25.58 and a twelve month high of $47.08. The company has a 50-day moving average of $30.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.57 and a quick ratio of 2.57.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.15. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.68 billion. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, research analysts expect that Uber Technologies will post -7.18 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. WT Wealth Management bought a new stake in shares of Uber Technologies in the 3rd quarter valued at approximately $319,000. First Allied Advisory Services Inc. grew its stake in shares of Uber Technologies by 6.0% in the 3rd quarter. First Allied Advisory Services Inc. now owns 22,495 shares of the ride-sharing company’s stock valued at $703,000 after purchasing an additional 1,268 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Uber Technologies in the 3rd quarter valued at approximately $43,085,000. D.A. Davidson & CO. grew its stake in shares of Uber Technologies by 66.7% in the 3rd quarter. D.A. Davidson & CO. now owns 7,485 shares of the ride-sharing company’s stock valued at $228,000 after purchasing an additional 2,994 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Uber Technologies by 837.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,406 shares of the ride-sharing company’s stock valued at $43,000 after purchasing an additional 1,256 shares during the period. Hedge funds and other institutional investors own 45.32% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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