JMP Securities Boosts Uber Technologies (NYSE:UBER) Price Target to $80.00

Uber Technologies (NYSE:UBER) had its price objective hoisted by JMP Securities from $75.00 to $80.00 in a report issued on Wednesday, Benzinga reports. They currently have a market outperform rating on the ride-sharing company’s stock.

A number of other brokerages also recently issued reports on UBER. Roth Mkm boosted their price objective on Uber Technologies from $89.00 to $90.00 and gave the company a buy rating in a research note on Wednesday. Loop Capital cut their price objective on Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a research note on Thursday, May 16th. TD Cowen boosted their price objective on Uber Technologies from $88.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Piper Sandler boosted their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an overweight rating in a research note on Tuesday, June 25th. Finally, Truist Financial upped their price target on Uber Technologies from $86.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday. Four investment 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, the company currently has an average rating of Moderate Buy and a consensus price target of $87.47.

Uber Technologies Stock Down 0.7 %

Shares of UBER stock traded down $0.47 during mid-day trading on Wednesday, reaching $68.54. 12,770,320 shares of the company’s stock traded hands, compared to its average volume of 19,276,854. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14. The company has a market cap 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. The company’s 50-day moving average price is $68.47 and its 200-day moving average price is $71.00.

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

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’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 completion of 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 filing with the SEC, which can be accessed through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 89,234 shares of Uber Technologies stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the sale, the insider now directly owns 124,945 shares of the company’s stock, valued at approximately $8,518,750.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently added to or reduced their stakes in UBER. Bradley Foster & Sargent Inc. CT grew its stake in Uber Technologies by 37.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 56,603 shares of the ride-sharing company’s stock valued at $4,114,000 after buying an additional 15,382 shares during the last quarter. L & S Advisors Inc bought a new position in shares of Uber Technologies during the second quarter worth approximately $1,651,000. Axxcess Wealth Management LLC boosted its position in shares of Uber Technologies by 50.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 18,449 shares of the ride-sharing company’s stock worth $1,341,000 after acquiring an additional 6,171 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its position in shares of Uber Technologies by 9.3% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 3,530 shares of the ride-sharing company’s stock worth $257,000 after acquiring an additional 300 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Uber Technologies by 31.9% during the 2nd quarter. Moors & Cabot Inc. now owns 86,792 shares of the ride-sharing company’s stock worth $6,308,000 after acquiring an additional 21,015 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Uber Technologies Company Profile

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.