Susquehanna Raises Uber Technologies (NYSE:UBER) Price Target to $32.00

Uber Technologies (NYSE:UBERGet Rating) had its price target lifted by Susquehanna from $29.00 to $32.00 in a research report sent to investors on Wednesday morning, The Fly reports.

UBER has been the subject of a number of other reports. Wells Fargo & Company lowered their price objective on shares of Uber Technologies from $68.00 to $55.00 in a research report on Thursday, May 5th. Mizuho lowered their price objective on shares of Uber Technologies from $58.00 to $46.00 and set a buy rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Uber Technologies from $60.00 to $48.00 and set an overweight rating on the stock in a report on Wednesday, June 29th. Citigroup reduced their target price on shares of Uber Technologies from $50.00 to $48.00 and set a buy rating on the stock in a report on Thursday, July 14th. Finally, Cowen reduced their target price on shares of Uber Technologies from $80.00 to $72.00 in a report on Thursday, May 5th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $49.63.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $32.01 on Wednesday. The firm has a 50 day moving average of $23.34 and a 200-day moving average of $28.98. The stock has a market capitalization of $62.86 billion, a PE ratio of -6.14 and a beta of 1.35. Uber Technologies has a 12 month low of $19.90 and a 12 month high of $48.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.96.

Uber Technologies (NYSE:UBERGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The ride-sharing company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.08). The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.37 billion. Uber Technologies had a negative return on equity of 62.32% and a negative net margin of 39.39%. Uber Technologies’s revenue for the quarter was up 105.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, equities research analysts predict that Uber Technologies will post -3.57 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 87,841 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $31.26, for a total transaction of $2,745,909.66. Following the completion of the transaction, the insider now owns 141,944 shares in the company, valued at $4,437,169.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of UBER. Altimeter Capital Management LP raised its stake in Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after purchasing an additional 19,260,000 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Uber Technologies in the fourth quarter valued at approximately $635,212,000. Norges Bank purchased a new stake in Uber Technologies in the fourth quarter valued at approximately $594,489,000. Jennison Associates LLC raised its stake in Uber Technologies by 23.6% in the fourth quarter. Jennison Associates LLC now owns 49,538,244 shares of the ride-sharing company’s stock valued at $2,077,139,000 after purchasing an additional 9,449,743 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Uber Technologies by 145.2% in the second quarter. Assenagon Asset Management S.A. now owns 11,826,227 shares of the ride-sharing company’s stock valued at $241,965,000 after purchasing an additional 7,003,848 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

About Uber Technologies

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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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