Uber Technologies (NYSE:UBER) Price Target Raised to $115.00 at UBS Group

Uber Technologies (NYSE:UBER) had its target price hoisted by UBS Group from $107.00 to $115.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

Several other research firms have also weighed in on UBER. Sanford C. Bernstein boosted their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. DA Davidson boosted 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, May 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Needham & Company LLC upped their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.71.

Uber Technologies Stock Down 3.8%

UBER stock opened at $87.19 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $97.71. The firm has a fifty day moving average price of $89.16 and a two-hundred day moving average price of $79.94. The firm has a market cap of $182.33 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.04 and a beta of 1.40.

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, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on 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 owned 102,135 shares of the company’s stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,496,071 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UBER. Capital Research Global Investors increased its position 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 worth $7,125,728,000 after acquiring an additional 52,125,476 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the first quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC increased its position in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.