BMO Capital Markets Has Lowered Expectations for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective decreased by equities researchers at BMO Capital Markets from $113.00 to $106.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. BMO Capital Markets’ target price points to a potential upside of 14.81% from the stock’s previous close.

Several other research analysts have also commented on UBER. Weiss Ratings reiterated a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Roth Capital lifted their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $108.00 target price on shares of Uber Technologies in a report on Wednesday, October 29th. Finally, Wall Street Zen downgraded shares of Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.26.

Uber Technologies Trading Down 0.5%

Shares of Uber Technologies stock opened at $92.33 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $95.50 and its 200-day simple moving average is $90.95. The stock has a market cap of $192.55 billion, a P/E ratio of 11.87 and a beta of 1.46. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $101.99.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 604,946 shares of company stock valued at $58,950,116. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UBER. Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Norges Bank acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at about $2,348,319,000. Kingstone Capital Partners Texas LLC grew its stake in 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 buying an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. increased its position in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after buying an additional 6,254,898 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Institutional investors and hedge funds 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.