DA Davidson Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective lifted by equities research analysts at DA Davidson from $80.00 to $98.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. DA Davidson’s target price points to a potential upside of 16.57% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Monday. Truist Financial boosted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Wednesday, April 16th. Finally, UBS Group reiterated a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.39.

Uber Technologies Trading Down 2.1 %

Shares of NYSE:UBER opened at $84.07 on Thursday. The company has a 50 day moving average of $74.42 and a 200-day moving average of $71.56. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of $175.86 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company posted ($0.32) EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares in the company, valued at approximately $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,904 shares of company stock valued at $6,027,619. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after acquiring an additional 2,364,525 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC lifted its position in Uber Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Capital World Investors boosted its stake in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after buying an additional 2,792,039 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after buying an additional 7,137,512 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.