Uber Technologies (NYSE:UBER) Price Target Raised to $127.00

Uber Technologies (NYSE:UBER) had its price target hoisted by Wells Fargo & Company from $119.00 to $127.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the ride-sharing company’s stock.

UBER has been the topic of several other reports. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, May 15th. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Piper Sandler upped their price target on Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, BMO Capital Markets boosted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.06.

Uber Technologies Stock Performance

UBER opened at $90.89 on Friday. The company has a 50 day simple moving average of $92.42 and a two-hundred day simple moving average of $84.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $189.54 billion, a P/E ratio of 15.48, a PEG ratio of 1.04 and a beta of 1.43. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $97.71.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. Equities analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UBER. Vanguard Group Inc. raised its position in Uber Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock worth $17,685,157,000 after purchasing an additional 3,025,483 shares during the period. Geode Capital Management LLC grew its stake in shares of Uber Technologies by 2.6% during the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after buying an additional 1,168,288 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter worth approximately $2,207,743,000. Norges Bank purchased a new stake in shares of Uber Technologies in the second quarter worth approximately $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC lifted its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.