Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Evercore ISI Analyst Says

Uber Technologies (NYSE:UBER) had its price objective increased by analysts at Evercore ISI from $90.00 to $120.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the ride-sharing company’s stock. Evercore ISI’s price target indicates a potential upside of 69.44% from the stock’s previous close.

Several other brokerages have also recently issued reports on UBER. TD Cowen raised their target price on shares of Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Oppenheimer raised their price objective on Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Melius initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective for the company. Benchmark initiated coverage on Uber Technologies in a research report on Friday, October 25th. They set a “hold” rating for the company. Finally, Jefferies Financial Group raised their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.19.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded down $8.61 during trading hours on Thursday, reaching $70.82. The company had a trading volume of 44,830,480 shares, compared to its average volume of 17,945,201. Uber Technologies has a one year low of $42.20 and a one year high of $87.00. The firm has a market cap of $148.79 billion, a PE ratio of 77.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The business has a fifty day simple moving average of $75.40 and a 200 day simple moving average of $70.87.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, analysts anticipate that Uber Technologies will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 2.2% in 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 acquiring an additional 3,623,951 shares in the last quarter. Capital Research Global Investors lifted its position in shares of 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 purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC raised its position in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after acquiring an additional 9,541,366 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares in the last quarter. Hedge funds and other institutional investors 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.