Uber Technologies (NYSE:UBER) Price Target Increased to $91.00 by Analysts at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price target hoisted by Wells Fargo & Company from $89.00 to $91.00 in a report released on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the ride-sharing company’s stock.

Several other brokerages also recently commented on UBER. Needham & Company LLC reissued a buy rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Loop Capital dropped their price objective on shares of Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a report on Thursday, May 16th. Argus lifted their price objective on shares of Uber Technologies from $69.00 to $95.00 and gave the stock a buy rating in a report on Monday, March 4th. JMP Securities reaffirmed a market outperform rating and set a $80.00 price objective on shares of Uber Technologies in a report on Thursday, May 16th. Finally, Truist Financial lifted their price objective on shares of Uber Technologies from $90.00 to $94.00 and gave the stock a buy rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies presently has an average rating of Moderate Buy and an average price target of $84.41.

Uber Technologies Stock Down 2.2 %

Shares of NYSE:UBER opened at $71.10 on Friday. The firm has a fifty day moving average price of $67.94 and a two-hundred day moving average price of $69.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies has a one year low of $40.09 and a one year high of $82.14. The company has a market cap of $148.56 billion, a price-to-earnings ratio of 114.68, a PEG ratio of 1.59 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm 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 business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts anticipate that Uber Technologies will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the transaction, the insider now 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 635,984 shares of company stock valued at $42,258,297 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UBER. Financial Management Professionals Inc. raised its holdings in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. CVA Family Office LLC purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $30,000. Highlander Capital Management LLC increased its holdings in Uber Technologies by 100.0% during the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 250 shares during the last quarter. Bfsg LLC purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $31,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Uber Technologies by 49.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 174 shares during the last quarter. Institutional investors 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.