Uber Technologies (NYSE:UBER) Price Target Raised to $114.00

Uber Technologies (NYSE:UBER) had its target price raised by TD Cowen from $108.00 to $114.00 in a research report sent to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the ride-sharing company’s stock.

Other equities analysts have also issued research reports about the company. BMO Capital Markets decreased their price target on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus set a $122.00 price objective on shares of Uber Technologies in a research note on Tuesday. Susquehanna reissued a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a research report on Wednesday. Wells Fargo & Company cut their price target on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $108.26.

Uber Technologies Trading Down 0.1%

Uber Technologies stock opened at $92.03 on Wednesday. The firm has a market cap of $191.21 billion, a price-to-earnings ratio of 11.83 and a beta of 1.46. Uber Technologies has a 1 year low of $59.33 and a 1 year high of $101.99. The firm’s 50 day moving average price is $95.46 and its two-hundred day moving average price is $91.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.15.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 68.17% and a net margin of 33.54%.The company’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. On average, research analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 604,946 shares of company stock valued at $58,950,116 in the last three months. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Kilter Group LLC bought a new stake in Uber Technologies in the second quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at $27,000. Westend Capital Management LLC bought a new stake in Uber Technologies in the third quarter worth $27,000. West Oak Capital LLC bought a new stake in Uber Technologies in the second quarter worth $28,000. Finally, Truvestments Capital LLC increased its position in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 339 shares during the last quarter. 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.