Piper Sandler Cuts Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its target price cut by Piper Sandler from $98.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

A number of other equities research analysts also recently commented on UBER. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, December 18th. Truist Financial dropped their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company decreased their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Evercore ISI upped their price target on shares of Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, DA Davidson lifted their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $91.08.

Uber Technologies Price Performance

Uber Technologies stock opened at $66.59 on Tuesday. The firm’s 50-day moving average is $65.77 and its two-hundred day moving average is $70.17. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $140.21 billion, a P/E ratio of 33.13, a P/E/G ratio of 0.77 and a beta of 1.36. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the previous year, the company earned $0.10 EPS. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts predict that Uber Technologies will post 1.86 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently made changes to their positions in UBER. Creative Planning lifted its position in shares of Uber Technologies by 3.3% in the 2nd quarter. Creative Planning now owns 145,672 shares of the ride-sharing company’s stock worth $10,587,000 after buying an additional 4,600 shares during the last quarter. Invst LLC lifted its holdings in Uber Technologies by 45.7% in the second quarter. Invst LLC now owns 3,911 shares of the ride-sharing company’s stock worth $278,000 after acquiring an additional 1,227 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Uber Technologies by 142.4% in the second quarter. EP Wealth Advisors LLC now owns 79,070 shares of the ride-sharing company’s stock valued at $5,747,000 after acquiring an additional 46,449 shares during the period. Truist Financial Corp grew its holdings in shares of Uber Technologies by 4.4% during the second quarter. Truist Financial Corp now owns 490,554 shares of the ride-sharing company’s stock valued at $35,653,000 after purchasing an additional 20,815 shares during the last quarter. Finally, Ted Buchan & Co acquired a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $286,000. 80.24% of the stock is owned by institutional investors and hedge funds.

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.