Canaccord Genuity Group Forecasts Strong Price Appreciation for Aurora Innovation (NASDAQ:AUR) Stock

Aurora Innovation (NASDAQ:AUR) had its price objective increased by investment analysts at Canaccord Genuity Group from $10.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 84.28% from the stock’s previous close.

AUR has been the topic of a number of other reports. TD Cowen initiated coverage on shares of Aurora Innovation in a research report on Friday, March 7th. They issued a “hold” rating and a $8.00 price target on the stock. Needham & Company LLC started coverage on Aurora Innovation in a research note on Tuesday, April 15th. They issued a “buy” rating and a $10.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Aurora Innovation in a research report on Thursday, February 13th. The Goldman Sachs Group upgraded Aurora Innovation from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $6.00 in a research report on Thursday, April 10th. Finally, Morgan Stanley assumed coverage on Aurora Innovation in a research report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.25.

Aurora Innovation Stock Performance

Shares of AUR stock opened at $8.14 on Friday. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of -17.32 and a beta of 2.77. Aurora Innovation has a one year low of $2.10 and a one year high of $10.77. The company’s 50-day simple moving average is $6.72 and its 200-day simple moving average is $6.77.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, February 12th. The company reported ($0.11) EPS for the quarter. As a group, research analysts forecast that Aurora Innovation will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Uber Technologies Inc acquired a new position in shares of Aurora Innovation during the fourth quarter valued at approximately $2,053,632,000. Toyota Motor Corp acquired a new position in shares of Aurora Innovation during the 4th quarter valued at $298,294,000. Lightspeed Management Company L.L.C. bought a new stake in shares of Aurora Innovation in the 4th quarter worth $74,003,000. Norges Bank acquired a new stake in shares of Aurora Innovation in the fourth quarter valued at $45,772,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Aurora Innovation by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company’s stock valued at $168,030,000 after buying an additional 3,237,609 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.