Uber Technologies (NYSE:UBER) Price Target Lowered to $88.00 at TD Cowen

Uber Technologies (NYSE:UBER) had its target price lowered by TD Cowen from $90.00 to $88.00 in a research note issued to investors on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the ride-sharing company’s stock.

Several other brokerages have also recently issued reports on UBER. Wells Fargo & Company raised their price objective on Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Citigroup decreased their target price on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. UBS Group reiterated a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Finally, Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Uber Technologies Price Performance

UBER stock opened at $64.69 on Tuesday. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00. The company has a 50-day moving average price of $73.57 and a 200 day moving average price of $71.56. The stock has a market cap of $135.31 billion, a PE ratio of 14.19, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Equities research analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the sale, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,154 shares of company stock worth $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UBER. Capital Research Global Investors raised its stake in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Norges Bank acquired a new position in shares of Uber Technologies in the fourth quarter valued at approximately $1,467,754,000. Jennison Associates LLC lifted its holdings in Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Boston Partners acquired a new position in Uber Technologies in the 4th quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after buying an additional 5,753,637 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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.