Uber Technologies (NYSE:UBER) Price Target Cut to $50.00 by Analysts at Citigroup

Uber Technologies (NYSE:UBERGet Rating) had its price target lowered by equities researchers at Citigroup from $78.00 to $50.00 in a note issued to investors on Wednesday, April 20th, MarketBeat reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Citigroup’s target price indicates a potential upside of 77.94% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Bank of America lifted their price objective on Uber Technologies from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 10th. Truist Financial cut their price objective on Uber Technologies from $70.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 10th. Canaccord Genuity Group cut their price objective on Uber Technologies from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 10th. William Blair reaffirmed an “outperform” rating on shares of Uber Technologies in a report on Wednesday, February 9th. Finally, Jefferies Financial Group set a $80.00 price objective on Uber Technologies and gave the stock a “buy” rating in a research report on Friday, February 11th. One analyst has rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Buy” and a consensus target price of $61.59.

UBER traded down $1.37 during trading on Wednesday, reaching $28.10. 115,438,174 shares of the company’s stock were exchanged, compared to its average volume of 33,237,492. Uber Technologies has a fifty-two week low of $25.90 and a fifty-two week high of $54.07. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $32.74 and a 200 day moving average price of $37.87. The company has a market capitalization of $54.93 billion, a P/E ratio of -87.53 and a beta of 1.29.

Uber Technologies (NYSE:UBERGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The ride-sharing company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.77. Uber Technologies had a negative net margin of 2.84% and a positive return on equity of 3.90%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.39 billion. As a group, research analysts forecast that Uber Technologies will post -0.77 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR lifted its stake in Uber Technologies by 63.4% in the 1st quarter. Stephens Inc. AR now owns 83,055 shares of the ride-sharing company’s stock valued at $2,963,000 after acquiring an additional 32,239 shares in the last quarter. Ziegler Capital Management LLC raised its stake in shares of Uber Technologies by 84.0% during the 1st quarter. Ziegler Capital Management LLC now owns 65,911 shares of the ride-sharing company’s stock worth $2,352,000 after purchasing an additional 30,098 shares in the last quarter. Dearborn Partners LLC raised its stake in shares of Uber Technologies by 18.1% during the 1st quarter. Dearborn Partners LLC now owns 9,140 shares of the ride-sharing company’s stock worth $326,000 after purchasing an additional 1,399 shares in the last quarter. Titleist Asset Management LTD. raised its stake in shares of Uber Technologies by 12.8% during the 1st quarter. Titleist Asset Management LTD. now owns 20,046 shares of the ride-sharing company’s stock worth $715,000 after purchasing an additional 2,273 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Uber Technologies by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,503,193 shares of the ride-sharing company’s stock worth $85,719,000 after purchasing an additional 27,936 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

About Uber Technologies (Get Rating)

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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