Uber Technologies (NYSE:UBER) Given New $115.00 Price Target at UBS Group

Uber Technologies (NYSE:UBER) had its target price increased by UBS Group from $107.00 to $115.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. UBS Group’s price objective points to a potential upside of 31.28% from the stock’s current price.

Several other research firms have also recently commented on UBER. Stifel Nicolaus started coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a “buy” rating and a $110.00 price target for the company. Needham & Company LLC set a $109.00 price target on Uber Technologies and gave the stock a “buy” rating in a research note on Monday, July 14th. Piper Sandler upped their price target on Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays upped their price target on Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, KeyCorp upped their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.71.

Uber Technologies Price Performance

UBER stock opened at $87.60 on Tuesday. The company has a market capitalization of $183.19 billion, a P/E ratio of 15.34, a PEG ratio of 1.00 and a beta of 1.40. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $97.71. The business has a 50 day simple moving average of $89.14 and a 200-day simple moving average of $79.99. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider directly owned 102,135 shares of the company’s stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,496,071 in the last three months. 3.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Transce3nd LLC purchased a new stake in Uber Technologies in the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the 4th quarter valued at about $27,000. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.