Citigroup Raises Uber Technologies (NYSE:UBER) Price Target to $96.00

Uber Technologies (NYSE:UBER) had its price target upped by Citigroup from $93.00 to $96.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. JMP Securities restated a market outperform rating and issued a $80.00 price objective on shares of Uber Technologies in a report on Thursday, May 16th. UBS Group cut their price objective on Uber Technologies from $100.00 to $95.00 and set a buy rating for the company in a report on Thursday, May 9th. Moffett Nathanson restated a buy rating and issued a $92.00 price objective on shares of Uber Technologies in a report on Thursday, April 11th. Piper Sandler upped their price objective on Uber Technologies from $78.00 to $92.00 and gave the company an overweight rating in a report on Friday, March 15th. Finally, TD Cowen reduced their target price on Uber Technologies from $90.00 to $88.00 and set a buy rating for the company in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $84.47.

Uber Technologies Trading Down 1.1 %

NYSE:UBER opened at $70.06 on Wednesday. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $82.14. The stock has a market cap of $146.39 billion, a price-to-earnings ratio of 113.00, a PEG ratio of 1.56 and a beta of 1.37. The business has a fifty day moving average of $68.47 and a 200-day moving average of $68.99. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same period in the previous year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts predict that Uber Technologies will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 18,750 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold a total of 635,984 shares of company stock valued at $42,258,297 in the last three months. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its holdings in shares of Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Uber Technologies during the 1st quarter valued at about $32,000. YHB Investment Advisors Inc. acquired a new position in shares of Uber Technologies during the 1st quarter valued at about $37,000. CVA Family Office LLC acquired a new position in shares of Uber Technologies during the 4th quarter valued at about $30,000. Finally, Highlander Capital Management LLC increased its holdings in shares of Uber Technologies by 100.0% during the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 250 shares during the last quarter. 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.