Brokerages Set Uber Technologies, Inc. (NYSE:UBER) Target Price at $89.97

Shares of Uber Technologies, Inc. (NYSE:UBER) have been assigned an average rating of “Moderate Buy” from the thirty-six brokerages that are currently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $89.97.

Several equities analysts have commented on the stock. Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. UBS Group reissued a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th.

Uber Technologies Trading Up 1.9 %

Shares of NYSE UBER opened at $72.26 on Friday. The stock has a fifty day simple moving average of $73.94 and a 200-day simple moving average of $71.44. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $151.15 billion, a PE ratio of 15.85, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock worth $5,793,869 in the last three months. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Perkins Coie Trust Co increased its holdings in shares of Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 306 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in Uber Technologies during the first quarter worth about $51,000. Gateway Investment Advisers LLC increased its holdings in Uber Technologies by 273.1% in the first quarter. Gateway Investment Advisers LLC now owns 396,770 shares of the ride-sharing company’s stock valued at $28,909,000 after buying an additional 290,421 shares in the last quarter. GGM Financials LLC acquired a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $202,000. Finally, City State Bank boosted its stake in shares of Uber Technologies by 3,330.0% during the 1st quarter. City State Bank now owns 1,715 shares of the ride-sharing company’s stock worth $125,000 after acquiring an additional 1,665 shares in the last quarter. Institutional investors and hedge funds 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.