Uber Technologies (NYSE:UBER) Price Target Raised to $110.00

Uber Technologies (NYSE:UBER) had its price target hoisted by Truist Financial from $96.00 to $110.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

Several other equities research analysts also recently weighed in on UBER. Susquehanna reissued a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a research report on Wednesday. Wedbush decreased their price target on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Stifel Nicolaus set a $122.00 price objective on Uber Technologies in a research note on Tuesday. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a report on Wednesday. Finally, DA Davidson boosted their price target on Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Performance

Uber Technologies stock opened at $92.03 on Wednesday. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37. The stock has a market cap of $191.21 billion, a P/E ratio of 11.83 and a beta of 1.46. The stock has a 50 day moving average of $95.46 and a 200-day moving average of $91.09.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 604,946 shares of company stock valued at $58,950,116. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Hilltop National Bank acquired a new stake in shares of Uber Technologies during the second quarter worth $96,000. American Capital Advisory LLC boosted its position in shares of Uber Technologies by 47.8% in the 2nd quarter. American Capital Advisory LLC now owns 13,006 shares of the ride-sharing company’s stock valued at $1,213,000 after purchasing an additional 4,204 shares during the period. Teacher Retirement System of Texas increased its stake in Uber Technologies by 50.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 548,051 shares of the ride-sharing company’s stock worth $51,133,000 after purchasing an additional 183,085 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock worth $7,483,000 after purchasing an additional 91,362 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock worth $70,822,000 after buying an additional 226,960 shares during the period. 80.24% of the stock is owned by 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.