Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Wolfe Research Analyst Says

Uber Technologies (NYSE:UBER) had its price objective increased by equities research analysts at Wolfe Research from $90.00 to $92.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the ride-sharing company’s stock. Wolfe Research’s price objective points to a potential upside of 44.54% from the stock’s current price.

A number of other research firms have also issued reports on UBER. Evercore ISI boosted their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer increased their target price on Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Thursday, October 17th. Raymond James initiated coverage on Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Stock Up 0.8 %

Uber Technologies stock opened at $63.65 on Friday. The firm has a 50 day moving average price of $68.24 and a two-hundred day moving average price of $70.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The firm has a market cap of $134.03 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Equities analysts predict that Uber Technologies will post 1.89 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction 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 completion of the sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Uber Technologies by 39.4% in the 4th quarter. Versant Capital Management Inc now owns 1,252 shares of the ride-sharing company’s stock valued at $76,000 after purchasing an additional 354 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Uber Technologies by 7.1% during the third quarter. Principal Financial Group Inc. now owns 2,460,332 shares of the ride-sharing company’s stock valued at $184,919,000 after buying an additional 162,528 shares during the period. SMART Wealth LLC bought a new position in Uber Technologies in the third quarter worth approximately $236,000. Inspire Trust Co. N.A. lifted its holdings in Uber Technologies by 30.5% during the third quarter. Inspire Trust Co. N.A. now owns 32,105 shares of the ride-sharing company’s stock worth $2,413,000 after buying an additional 7,500 shares during the period. Finally, Tri Ri Asset Management Corp bought a new stake in Uber Technologies during the 3rd quarter valued at $8,243,000. 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.