Wells Fargo & Company Raises Uber Technologies (NYSE:UBER) Price Target to $97.00

Uber Technologies (NYSE:UBER) had its target price hoisted by Wells Fargo & Company from $91.00 to $97.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

Several other equities analysts have also recently weighed in on UBER. Wolfe Research assumed coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an outperform rating and a $90.00 price objective on the stock. Royal Bank of Canada reiterated an outperform rating and set a $80.00 price target on shares of Uber Technologies in a research note on Tuesday, May 28th. Tigress Financial upped their price objective on Uber Technologies from $72.00 to $96.00 and gave the stock a buy rating in a research note on Friday, April 19th. Truist Financial raised their target price on Uber Technologies from $86.00 to $88.00 and gave the stock a buy rating in a report on Wednesday. Finally, Piper Sandler boosted their price target on Uber Technologies from $86.00 to $88.00 and gave the company an overweight rating in a report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of Moderate Buy and a consensus price target of $87.47.

Uber Technologies Stock Performance

UBER traded down $0.47 during mid-day trading on Wednesday, reaching $68.54. 12,770,320 shares of the company traded hands, compared to its average volume of 19,276,854. The company’s fifty day moving average price is $68.47 and its 200-day moving average price is $70.95. The stock has a market capitalization of $143.22 billion, a P/E ratio of 110.55, a P/E/G ratio of 1.45 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Uber Technologies will post 0.84 EPS for the current year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Tony West sold 18,750 shares of the company’s 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 completion of the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction 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 sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UBER. GHP Investment Advisors Inc. increased its stake in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares during the last quarter. WR Wealth Planners LLC lifted its position in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the period. Bfsg LLC acquired a new position in shares of Uber Technologies in the fourth quarter valued at about $31,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Uber Technologies during the first quarter worth about $32,000. 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.