Uber Technologies (NYSE:UBER) Price Target Lowered to $135.00 at Guggenheim

Uber Technologies (NYSE:UBER) had its price objective decreased by equities research analysts at Guggenheim from $140.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Guggenheim’s target price indicates a potential upside of 43.86% from the stock’s current price.

Several other research analysts have also commented on UBER. Weiss Ratings reissued a “buy (b-)” rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 target price on shares of Uber Technologies in a report on Tuesday. Wall Street Zen cut shares of Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.

Uber Technologies Trading Down 0.9%

UBER stock traded down $0.83 during midday trading on Wednesday, hitting $93.84. The stock had a trading volume of 4,359,007 shares, compared to its average volume of 20,678,822. Uber Technologies has a 12-month low of $59.33 and a 12-month high of $101.99. The firm has a market cap of $195.70 billion, a PE ratio of 16.00 and a beta of 1.46. The company’s 50-day moving average price is $95.62 and its 200 day moving average price is $90.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 604,946 shares of company stock worth $58,950,116. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently modified their holdings of the stock. Foster Group Inc. increased its stake in Uber Technologies by 3.3% in the 3rd quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock worth $330,000 after purchasing an additional 107 shares in the last quarter. Sage Rhino Capital LLC boosted its holdings in shares of Uber Technologies by 4.2% in the third quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock worth $268,000 after buying an additional 110 shares during the period. Quent Capital LLC increased its position in shares of Uber Technologies by 3.3% in the third quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock worth $343,000 after acquiring an additional 111 shares in the last quarter. Emergent Wealth Advisors LLC raised its holdings in shares of Uber Technologies by 0.7% during the third quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock valued at $1,701,000 after acquiring an additional 114 shares during the period. Finally, Dumont & Blake Investment Advisors LLC lifted its position in shares of Uber Technologies by 1.3% in the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 8,975 shares of the ride-sharing company’s stock valued at $879,000 after acquiring an additional 115 shares in the last quarter. 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.