Uber Technologies (NYSE:UBER) Price Target Cut to $35.00

Uber Technologies (NYSE:UBER – Get Rating) had its target price reduced by analysts at Sanford C. Bernstein from $45.00 to $35.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the ride-sharing company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 47.18% from the company’s current price.

Other research analysts have also issued research reports about the stock. Citigroup lowered their price objective on shares of Uber Technologies from $78.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. MKM Partners dropped their price objective on shares of Uber Technologies from $65.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 5th. Bank of America lifted their price target on shares of Uber Technologies from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 10th. Barclays reduced their target price on shares of Uber Technologies from $52.00 to $48.00 in a report on Thursday, May 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $68.00 to $55.00 in a research note on Thursday, May 5th. Twenty-nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Uber Technologies has an average rating of “Buy” and a consensus target price of $57.90.

Shares of NYSE UBER opened at $23.78 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.98 and a current ratio of 1.00. The firm has a fifty day moving average of $30.59 and a 200 day moving average of $35.71. The firm has a market cap of $46.70 billion, a PE ratio of -7.21 and a beta of 1.30. Uber Technologies has a one year low of $21.69 and a one year high of $52.36.

Uber Technologies (NYSE:UBER – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The ride-sharing company reported ($3.04) EPS for the quarter, missing the consensus estimate of ($0.27) by ($2.77). The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.10 billion. Uber Technologies had a negative net margin of 29.51% and a positive return on equity of 9.68%. The firm’s revenue for the quarter was up 136.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.57) earnings per share. On average, equities analysts predict that Uber Technologies will post -3.57 EPS for the current fiscal year.

In other Uber Technologies news, CEO Dara Khosrowshahi acquired 200,000 shares of Uber Technologies stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of $26.73 per share, with a total value of $5,346,000.00. Following the acquisition, the chief executive officer now owns 1,420,968 shares of the company’s stock, valued at $37,982,474.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.06% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. boosted its position in Uber Technologies by 222.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 606 shares of the ride-sharing company’s stock worth $25,000 after acquiring an additional 418 shares during the last quarter. Ahrens Investment Partners LLC acquired a new position in shares of Uber Technologies in the fourth quarter valued at about $25,000. Centerpoint Advisors LLC acquired a new stake in shares of Uber Technologies during the 4th quarter worth $27,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Finally, MCF Advisors LLC bought a new position in Uber Technologies in the first quarter valued at about $27,000. 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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