Loop Capital Boosts Uber Technologies (NYSE:UBER) Price Target to $105.00

Uber Technologies (NYSE:UBER) had its price objective upped by research analysts at Loop Capital from $89.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Loop Capital’s price target would indicate a potential upside of 19.43% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on UBER. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, May 7th. Wedbush cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday. DA Davidson raised their target price on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group raised their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.69.

Uber Technologies Price Performance

UBER stock opened at $87.92 on Wednesday. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $93.60. The company has a market cap of $183.86 billion, a P/E ratio of 19.28, a PEG ratio of 0.89 and a beta of 1.43. The firm has a 50-day moving average of $77.85 and a 200 day moving average of $72.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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

Insider Activity

In related news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction on Thursday, March 13th. The shares were 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 approximately $8,027,715.07. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,788 shares of company stock worth $6,517,070 over the last 90 days. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its stake in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after buying an additional 1,663 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Uber Technologies in the fourth quarter worth $3,188,000. Clark Capital Management Group Inc. increased its stake in shares of Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after buying an additional 399,008 shares during the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Uber Technologies by 1,705.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock worth $3,414,000 after buying an additional 53,457 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in shares of Uber Technologies by 6.4% in the fourth quarter. Greenwood Capital Associates LLC now owns 84,658 shares of the ride-sharing company’s stock worth $5,107,000 after buying an additional 5,095 shares during the last quarter. 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.