Uber Technologies (NYSE:UBER) Price Target Raised to $54.00 – MarketBeat
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Uber Technologies (NYSE:UBER – Get Rating) had its price objective hoisted by equities research analysts at Needham & Company LLC from $52.00 to $54.00 in a research note issued on Wednesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 81.51% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Mizuho lowered their target price on shares of Uber Technologies from $58.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Susquehanna Bancshares raised their target price on shares of Uber Technologies from $29.00 to $32.00 in a research note on Wednesday, August 3rd. Cowen lowered their target price on shares of Uber Technologies from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, October 24th. KeyCorp assumed coverage on shares of Uber Technologies in a research note on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Finally, UBS Group lowered their target price on shares of Uber Technologies from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.64.
Uber Technologies Trading Up 12.0 %
Shares of Uber Technologies stock opened at $29.75 on Wednesday. Uber Technologies has a 12-month low of $19.90 and a 12-month high of $48.74. The company has a market cap of $58.90 billion, a price-to-earnings ratio of -5.71 and a beta of 1.17. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $28.65 and its 200-day moving average price is $26.61.
Uber Technologies (NYSE:UBER – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The ride-sharing company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.08). Uber Technologies had a negative return on equity of 69.83% and a negative net margin of 39.39%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.37 billion. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 105.6% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies will post -4.64 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Tony West sold 4,167 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $32.00, for a total value of $133,344.00. Following the completion of the sale, the insider now owns 142,593 shares of the company’s stock, valued at $4,562,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.92% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Uber Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sigma Planning Corp raised its position in shares of Uber Technologies by 12.2% in the 1st quarter. Sigma Planning Corp now owns 25,566 shares of the ride-sharing company’s stock worth $912,000 after purchasing an additional 2,786 shares during the last quarter. Exane Derivatives purchased a new position in shares of Uber Technologies in the 1st quarter worth about $473,000. UMB Bank N A MO raised its position in shares of Uber Technologies by 7.8% in the 1st quarter. UMB Bank N A MO now owns 8,630 shares of the ride-sharing company’s stock worth $308,000 after purchasing an additional 622 shares during the last quarter. Truist Financial Corp raised its position in shares of Uber Technologies by 25.9% in the 1st quarter. Truist Financial Corp now owns 671,343 shares of the ride-sharing company’s stock worth $23,954,000 after purchasing an additional 138,042 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Uber Technologies by 112.3% in the 1st quarter. Allworth Financial LP now owns 2,425 shares of the ride-sharing company’s stock worth $87,000 after purchasing an additional 1,283 shares during the last quarter. Hedge funds and other institutional investors own 71.57% of the company’s stock.
Uber Technologies Company Profile
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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.
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