Uber Technologies (NYSE:UBER) Given New $80.00 Price Target at KeyCorp

Uber Technologies (NYSE:UBER) had its price objective trimmed by KeyCorp from $85.00 to $80.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the ride-sharing company’s stock.

UBER has been the subject of a number of other reports. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. KGI Securities restated a “neutral” rating and set a $78.00 price target on shares of Uber Technologies in a research note on Tuesday, March 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a report on Thursday, January 2nd. Piper Sandler reissued an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.81.

Uber Technologies Stock Up 3.0 %

UBER stock opened at $75.28 on Tuesday. The company has a market capitalization of $157.47 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The business’s 50 day moving average price is $74.09 and its two-hundred day moving average price is $71.45. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 23,404 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,154 shares of company stock worth $5,793,869. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new position in Uber Technologies in the first quarter valued at about $27,000. Kozak & Associates Inc. grew its position in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after buying an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 299 shares during the last quarter. Perkins Coie Trust Co grew its holdings in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 306 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth $27,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.