JPMorgan Chase & Co. Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective boosted by JPMorgan Chase & Co. from $92.00 to $105.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the ride-sharing company’s stock.

Several other equities analysts have also recently weighed in on UBER. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. 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. Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Raymond James increased their price objective on Uber Technologies from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Barclays lifted their target price on Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Eleven 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.09.

Uber Technologies Price Performance

NYSE UBER opened at $91.84 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $93.60. The company has a market cap of $192.05 billion, a PE ratio of 20.14, a PEG ratio of 0.89 and a beta of 1.43. The stock’s 50-day moving average price is $77.21 and its two-hundred day moving average price is $72.21.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for 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%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. On average, analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,788 shares of company stock valued at $6,517,070. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

A number of hedge funds have recently modified their holdings of the company. Navalign LLC raised its position in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after purchasing an additional 126 shares in the last quarter. Grove Bank & Trust boosted its stake in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after buying an additional 133 shares in the last quarter. Forum Financial Management LP grew its position in Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after acquiring an additional 136 shares during the period. CBIZ Investment Advisory Services LLC grew its position in Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock valued at $34,000 after acquiring an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC raised its stake in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock worth $302,000 after acquiring an additional 145 shares in the last quarter. 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.