Uber Technologies (NYSE:UBER) Given New $88.00 Price Target at TD Cowen

Uber Technologies (NYSE:UBER) had its target price dropped by TD Cowen from $90.00 to $88.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. TD Cowen’s price target would suggest a potential upside of 29.18% from the company’s current price.

Several other equities analysts have also issued reports on UBER. Wedbush reiterated an “outperform” rating and issued a $85.00 price target on shares of Uber Technologies in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $59.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Oppenheimer reiterated an “outperform” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Monday, April 29th. TheStreet upgraded Uber Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, February 7th. Finally, UBS Group lifted their price objective on shares of Uber Technologies from $94.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $83.56.

Uber Technologies Stock Performance

Shares of UBER traded up $1.72 during mid-day trading on Thursday, hitting $68.12. 12,262,987 shares of the company’s stock were exchanged, compared to its average volume of 20,451,344. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. Uber Technologies has a 52 week low of $37.07 and a 52 week high of $82.14. The stock’s 50-day simple moving average is $74.80 and its 200-day simple moving average is $65.83. The firm has a market cap of $141.78 billion, a price-to-earnings ratio of 78.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39.

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

Insider Activity at Uber Technologies

In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $70.08, for a total value of $1,314,000.00. Following the sale, the insider now directly owns 185,566 shares of the company’s stock, valued at $13,004,465.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Tony West sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $70.08, for a total value of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total value of $1,556,600.00. Following the completion of the sale, the insider now directly owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its holdings in Uber Technologies by 19.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 25,216 shares of the ride-sharing company’s stock worth $1,941,000 after buying an additional 4,024 shares in the last quarter. Blair William & Co. IL raised its holdings in Uber Technologies by 11.7% in the first quarter. Blair William & Co. IL now owns 3,210,584 shares of the ride-sharing company’s stock valued at $247,183,000 after acquiring an additional 337,219 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Uber Technologies by 5.6% in the first quarter. Kingsview Wealth Management LLC now owns 12,784 shares of the ride-sharing company’s stock worth $984,000 after acquiring an additional 680 shares during the last quarter. TTP Investments Inc. grew its holdings in Uber Technologies by 0.7% during the 1st quarter. TTP Investments Inc. now owns 146,148 shares of the ride-sharing company’s stock worth $11,252,000 after acquiring an additional 1,048 shares in the last quarter. Finally, TBH Global Asset Management LLC raised its holdings in shares of Uber Technologies by 59.7% in the 1st quarter. TBH Global Asset Management LLC now owns 6,683 shares of the ride-sharing company’s stock valued at $515,000 after purchasing an additional 2,498 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.