Uber Technologies (NYSE:UBER) Price Target Cut to $89.00

Uber Technologies (NYSE:UBER) had its price objective reduced by stock analysts at Wells Fargo & Company from $95.00 to $89.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 30.65% from the company’s current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets upped their target price on Uber Technologies from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Susquehanna upped their target price on Uber Technologies from $60.00 to $85.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Bank of America cut their target price on Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays upped their target price on Uber Technologies from $63.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, Citigroup upped their target price on Uber Technologies from $83.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.56.

Uber Technologies Stock Up 2.6 %

NYSE UBER traded up $1.72 on Thursday, reaching $68.12. The company had a trading volume of 12,262,987 shares, compared to its average volume of 20,451,344. The firm has a market capitalization of $141.78 billion, a PE ratio of 78.67, a P/E/G ratio of 1.09 and a beta of 1.39. Uber Technologies has a 1 year low of $37.07 and a 1 year high of $82.14. The firm has a 50-day moving average of $74.80 and a 200-day moving average of $65.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 1.19.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, equities research analysts anticipate that Uber Technologies will post 1.23 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the completion of the transaction, the insider now owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. OFI Invest Asset Management purchased a new stake in Uber Technologies in the 3rd quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in Uber Technologies by 2,545.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 582 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 560 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Uber Technologies by 319.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 650 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 495 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Uber Technologies in the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.