Uber Technologies (NYSE:UBER) Price Target Increased to $90.00 by Analysts at The Goldman Sachs Group

Uber Technologies (NYSE:UBER) had its price objective lifted by The Goldman Sachs Group from $85.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the ride-sharing company’s stock.

A number of other analysts have also recently issued reports on UBER. Evercore ISI increased their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday. Loop Capital decreased their price target on Uber Technologies from $88.00 to $83.00 and set a buy rating on the stock in a report on Thursday, May 16th. Wedbush restated an outperform rating and issued a $85.00 price objective on shares of Uber Technologies in a research report on Wednesday, May 8th. Citigroup lifted their target price on Uber Technologies from $93.00 to $96.00 and gave the company a buy rating in a research note on Wednesday, June 12th. Finally, DA Davidson upped their price target on Uber Technologies from $81.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat, Uber Technologies presently has a consensus rating of Moderate Buy and an average target price of $87.47.

Uber Technologies Stock Performance

UBER stock traded down $0.47 during midday 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. The company has a current ratio of 1.21, a quick 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. The stock has a market cap of $143.22 billion, a P/E ratio of 110.55, a PEG ratio of 1.45 and a beta of 1.36. The stock’s 50-day moving average is $68.47 and its 200 day moving average is $71.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS 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 company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the firm earned $0.18 EPS. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies will post 0.84 EPS for the current year.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the sale, the insider now owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. Insiders have sold 1,135,984 shares of company stock worth $78,213,297 in the last ninety days. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Uber Technologies by 37.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 56,603 shares of the ride-sharing company’s stock valued at $4,114,000 after purchasing an additional 15,382 shares during the last quarter. L & S Advisors Inc acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $1,651,000. Axxcess Wealth Management LLC raised its holdings 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 during the period. 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 valued at $257,000 after acquiring an additional 300 shares during the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Uber Technologies by 31.9% in the second quarter. Moors & Cabot Inc. now owns 86,792 shares of the ride-sharing company’s stock valued at $6,308,000 after purchasing an additional 21,015 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.