Uber Technologies (NYSE:UBER) Price Target Raised to $92.00

Uber Technologies (NYSE:UBER) had its price objective boosted by JPMorgan Chase & Co. from $80.00 to $92.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Fox Advisors cut shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Piper Sandler reissued an “overweight” rating and issued a $87.00 target price (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. DA Davidson boosted their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, KGI Securities reiterated a “neutral” rating and issued a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.69.

Uber Technologies Stock Up 0.4 %

Uber Technologies stock opened at $82.60 on Thursday. The stock has a market cap of $172.73 billion, a PE ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock’s fifty day moving average is $74.72 and its two-hundred day moving average is $71.53. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business earned ($0.32) earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,904 shares of company stock valued at $6,027,619 in the last ninety days. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Altfest L J & Co. Inc. acquired a new position in shares of Uber Technologies in the 1st quarter valued at about $751,000. Monetta Financial Services Inc. purchased a new stake in Uber Technologies during the first quarter worth approximately $1,078,000. Charles Schwab Investment Management Inc. increased its position in shares of Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after acquiring an additional 394,157 shares in the last quarter. Coign Capital Advisors LLC raised its stake in shares of Uber Technologies by 14.2% in the 1st quarter. Coign Capital Advisors LLC now owns 7,917 shares of the ride-sharing company’s stock valued at $577,000 after acquiring an additional 984 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Uber Technologies during the 1st quarter valued at $15,650,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.