The Goldman Sachs Group Forecasts Strong Price Appreciation for Aurora Innovation (NASDAQ:AUR) Stock

Aurora Innovation (NASDAQ:AUR) had its price objective boosted by research analysts at The Goldman Sachs Group from $6.00 to $7.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 4.37% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Evercore ISI boosted their price target on shares of Aurora Innovation from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 18th. Needham & Company LLC boosted their price target on shares of Aurora Innovation from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Morgan Stanley started coverage on shares of Aurora Innovation in a report on Monday, March 3rd. They issued an “overweight” rating and a $12.00 price target for the company. Oppenheimer assumed coverage on shares of Aurora Innovation in a report on Thursday, March 27th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Aurora Innovation in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Aurora Innovation Price Performance

AUR opened at $7.32 on Monday. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of -15.57 and a beta of 2.76. Aurora Innovation has a fifty-two week low of $2.10 and a fifty-two week high of $10.77. The company’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $6.83.

Aurora Innovation (NASDAQ:AUR) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). As a group, equities research analysts predict that Aurora Innovation will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Uber Technologies Inc purchased a new stake in shares of Aurora Innovation during the fourth quarter valued at approximately $2,053,632,000. JPMorgan Chase & Co. increased its position in shares of Aurora Innovation by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 1,380,479 shares of the company’s stock valued at $8,172,000 after acquiring an additional 394,933 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Aurora Innovation by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 113,020,406 shares of the company’s stock valued at $712,029,000 after acquiring an additional 2,687,191 shares during the last quarter. Swiss National Bank increased its position in shares of Aurora Innovation by 22.3% during the fourth quarter. Swiss National Bank now owns 1,839,400 shares of the company’s stock valued at $11,588,000 after acquiring an additional 335,000 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Aurora Innovation by 14.9% during the fourth quarter. ARK Investment Management LLC now owns 2,412,353 shares of the company’s stock valued at $15,198,000 after acquiring an additional 312,144 shares during the last quarter. Institutional investors own 44.71% of the company’s stock.

About Aurora Innovation

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.