Uber Technologies (NYSE:UBER) Price Target Cut to $87.00

Uber Technologies (NYSE:UBER) had its price objective decreased by investment analysts at Bank of America from $91.00 to $87.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Bank of America‘s target price would suggest a potential upside of 31.02% from the company’s previous close.

A number of other brokerages have also issued reports on UBER. Tigress Financial lifted their price target on Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Piper Sandler lifted their target price on shares of Uber Technologies from $78.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. KeyCorp increased their target price on shares of Uber Technologies from $79.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Wedbush reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Uber Technologies in a research note on Wednesday. Finally, The Goldman Sachs Group raised their target price on shares of Uber Technologies from $59.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Uber Technologies Stock Performance

NYSE:UBER opened at $66.40 on Thursday. The company has a fifty day moving average of $74.80 and a two-hundred day moving average of $65.83. Uber Technologies has a fifty-two week low of $37.07 and a fifty-two week high of $82.14. The stock has a market capitalization of $138.20 billion, a PE ratio of 77.21, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.50. Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.76 billion. During the same period last year, the company posted $0.29 EPS. Uber Technologies’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, research analysts forecast that Uber Technologies will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. boosted its holdings in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 202 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $37,000. CVA Family Office LLC purchased a new stake in shares of Uber Technologies during the 4th quarter worth approximately $30,000. Highlander Capital Management LLC increased its stake in Uber Technologies by 100.0% in the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 250 shares in the last quarter. Finally, Bfsg LLC acquired a new position in Uber Technologies during the fourth quarter worth $31,000. 80.24% of the stock is owned by institutional investors and hedge funds.

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.