Citigroup Boosts Uber Technologies (NYSE:UBER) Price Target to $96.00

Uber Technologies (NYSE:UBERFree Report) had its target price hoisted by Citigroup from $93.00 to $96.00 in a research note released on Wednesday, 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 cut their target price on Uber Technologies from $103.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, May 9th. DA Davidson reaffirmed a buy rating and issued a $81.00 target price on shares of Uber Technologies in a research report on Wednesday, May 8th. Loop Capital dropped their price target on Uber Technologies from $88.00 to $83.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Oppenheimer reissued an outperform rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, June 5th. Finally, Wedbush reissued an outperform rating and set a $85.00 price target on shares of Uber Technologies in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has an average rating of Moderate Buy and an average target price of $84.47.

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Uber Technologies Stock Down 1.1 %

NYSE UBER opened at $70.08 on Wednesday. The stock has a market cap of $146.43 billion, a PE ratio of 113.03, a P/E/G ratio of 1.61 and a beta of 1.37. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The business has a 50 day moving average price of $68.47 and a two-hundred day moving average price of $68.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBERGet Free Report) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that Uber Technologies will post 0.84 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 635,984 shares of company stock valued at $42,258,297. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Capital World Investors lifted its stake in Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after acquiring an additional 283,802 shares in the last quarter. Capital Research Global Investors lifted its stake in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares in the last quarter. Finally, Norges Bank purchased a new stake in Uber Technologies in the 4th quarter worth about $1,415,778,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

About Uber Technologies

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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.

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