Mizuho Trims Uber Technologies (NYSE:UBER) Target Price to $58.00

Uber Technologies (NYSE:UBERGet Rating) had its price target lowered by equities researchers at Mizuho from $72.00 to $58.00 in a research note issued on Thursday, The Fly reports. Mizuho’s price objective indicates a potential upside of 106.41% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Bank of America upped their target price on Uber Technologies from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 10th. Truist Financial reduced their price objective on Uber Technologies from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 10th. Needham & Company LLC reduced their price objective on Uber Technologies from $75.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 11th. William Blair reaffirmed an “outperform” rating on shares of Uber Technologies in a research note on Wednesday, February 9th. Finally, Oppenheimer reduced their price objective on Uber Technologies from $50.00 to $45.00 in a research note on Friday, February 11th. One equities research analyst has rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $59.97.

Shares of NYSE UBER opened at $28.10 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.98 and a quick ratio of 0.98. Uber Technologies has a 52-week low of $25.90 and a 52-week high of $54.07. The business has a 50-day moving average price of $32.61 and a 200 day moving average price of $37.80.

Uber Technologies (NYSE:UBERGet Rating) last announced its earnings results on Wednesday, February 9th. The ride-sharing company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.77. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Uber Technologies had a positive return on equity of 3.90% and a negative net margin of 2.84%. As a group, sell-side analysts expect that Uber Technologies will post -0.76 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Summit X LLC increased its stake in shares of Uber Technologies by 6.3% during the 1st quarter. Summit X LLC now owns 7,106 shares of the ride-sharing company’s stock valued at $253,000 after acquiring an additional 419 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Uber Technologies by 12.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 67,609 shares of the ride-sharing company’s stock valued at $2,412,000 after acquiring an additional 7,414 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in shares of Uber Technologies by 6.5% during the 1st quarter. Ameritas Advisory Services LLC now owns 13,590 shares of the ride-sharing company’s stock valued at $485,000 after acquiring an additional 834 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Uber Technologies by 63.4% during 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 during the last quarter. Finally, Ziegler Capital Management LLC increased 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 valued at $2,352,000 after acquiring an additional 30,098 shares during the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.

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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