Loop Capital Cuts Uber Technologies (NYSE:UBER) Price Target to $83.00

Uber Technologies (NYSE:UBERFree Report) had its price target trimmed by Loop Capital from $88.00 to $83.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the ride-sharing company’s stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group dropped their price objective on Uber Technologies from $103.00 to $100.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC reissued a buy rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, May 8th. Bank of America dropped their target price on shares of Uber Technologies from $91.00 to $87.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company reduced their price target on shares of Uber Technologies from $95.00 to $89.00 and set an overweight rating for the company in a report on Thursday, May 9th. Finally, Susquehanna boosted their price objective on shares of Uber Technologies from $60.00 to $85.00 and gave the stock a positive rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $84.38.

Get Our Latest Report on Uber Technologies

Uber Technologies Stock Down 0.6 %

UBER opened at $65.67 on Thursday. The firm has a market cap of $137.22 billion, a P/E ratio of 105.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The business has a 50 day moving average price of $72.94 and a 200 day moving average price of $66.84. Uber Technologies has a twelve month low of $37.07 and a twelve month high of $82.14.

Uber Technologies (NYSE:UBERGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Uber Technologies’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts forecast that Uber Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tony West sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at $13,541,962.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at $13,541,962.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Wahed Invest LLC grew its holdings in Uber Technologies by 16.6% during the 1st quarter. Wahed Invest LLC now owns 38,812 shares of the ride-sharing company’s stock worth $2,988,000 after acquiring an additional 5,535 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Uber Technologies by 23.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,602 shares of the ride-sharing company’s stock worth $354,000 after purchasing an additional 885 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Uber Technologies during the first quarter worth $64,000. Plato Investment Management Ltd increased its holdings in Uber Technologies by 1,157.8% in the first quarter. Plato Investment Management Ltd now owns 37,270 shares of the ride-sharing company’s stock valued at $2,869,000 after purchasing an additional 34,307 shares during the last quarter. Finally, WealthPlan Investment Management LLC lifted its stake in Uber Technologies by 22.0% in the first quarter. WealthPlan Investment Management LLC now owns 11,941 shares of the ride-sharing company’s stock valued at $919,000 after buying an additional 2,157 shares during the period. 80.24% of the stock is owned by institutional investors.

About Uber Technologies

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Uber Technologies (NYSE:UBER)

Receive News & Ratings for Uber Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.