Uber Technologies (NYSE:UBER) Price Target Raised to $88.00

Uber Technologies (NYSE:UBER) had its target price increased by Piper Sandler from $86.00 to $88.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Wedbush reaffirmed an outperform rating and set a $85.00 price target on shares of Uber Technologies in a research report on Wednesday, May 8th. Oppenheimer reissued an outperform rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, June 5th. Argus boosted their price objective on Uber Technologies from $69.00 to $95.00 and gave the company a buy rating in a report on Monday, March 4th. Tigress Financial upped their price target on Uber Technologies from $72.00 to $96.00 and gave the stock a buy rating in a report on Friday, April 19th. Finally, DA Davidson reaffirmed a buy rating and issued a $81.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $84.34.

Uber Technologies Stock Down 0.7 %

Shares of UBER stock opened at $70.33 on Tuesday. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14. The stock’s fifty day moving average price is $67.83 and its 200 day moving average price is $69.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $146.96 billion, a price-to-earnings ratio of 113.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its earnings results 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). 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 for the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts expect that Uber Technologies will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on 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 directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Tony West sold 89,234 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total value of $6,083,974.12. Following the sale, the insider now directly owns 124,945 shares in the company, valued at $8,518,750.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 635,984 shares of company stock worth $42,258,297. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of UBER. Vanguard Group Inc. increased its holdings in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the last quarter. Capital World Investors grew its holdings in shares of Uber Technologies by 0.7% during the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Uber Technologies during the fourth quarter worth about $1,415,778,000. 80.24% of the stock is currently 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.