The Goldman Sachs Group Increases Uber Technologies (NYSE:UBER) Price Target to $110.00

Uber Technologies (NYSE:UBER) had its price target upped by equities research analysts at The Goldman Sachs Group from $96.00 to $110.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 33.17% from the stock’s current price.

Several other research analysts have also weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Wednesday, April 16th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday. Citigroup decreased their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, DA Davidson raised their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.69.

Uber Technologies Stock Up 0.4 %

Shares of NYSE:UBER opened at $82.60 on Thursday. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00. The stock’s 50-day moving average price is $74.72 and its two-hundred day moving average price is $71.59. 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 $172.78 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last released its 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. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Uber Technologies’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) earnings per share. On average, research analysts forecast that Uber Technologies will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This trade represents a 11.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently added to or reduced their stakes in UBER. Avion Wealth raised its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC acquired a new position in Uber Technologies during the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth about $27,000. Kozak & Associates Inc. lifted its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 223 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Institutional investors 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.