DA Davidson Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its price objective boosted by research analysts at DA Davidson from $102.00 to $108.00 in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. DA Davidson’s price target suggests a potential upside of 16.97% from the company’s current price.

Several other equities analysts have also weighed in on UBER. BMO Capital Markets increased their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Piper Sandler upped their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Raymond James Financial increased their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $92.33 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $95.50 and its two-hundred day moving average price is $90.95. The company has a market cap of $192.55 billion, a PE ratio of 11.87 and a beta of 1.46. Uber Technologies has a twelve month low of $59.33 and a twelve month high of $101.99.

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

Insider Transactions at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, 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 Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 1.6% during the second 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 last quarter. Geode Capital Management LLC boosted its position in Uber Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after buying an additional 1,168,288 shares during the period. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies during the 1st quarter worth approximately $2,207,743,000. Norges Bank bought a new stake in Uber Technologies during the 2nd quarter worth approximately $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC grew its holdings 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 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.