Uber Technologies (NYSE:UBER) Given New $97.00 Price Target at Barclays

Uber Technologies (NYSE:UBER) had its price objective increased by equities researchers at Barclays from $86.00 to $97.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Barclays‘s target price would indicate a potential upside of 17.43% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a report on Wednesday, April 16th. TD Cowen cut their price target on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Finally, Evercore ISI reduced their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Price Performance

Uber Technologies stock opened at $82.60 on Thursday. The stock has a market cap of $172.78 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The firm has a 50-day moving average of $74.72 and a two-hundred day moving average of $71.59. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data 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 62.60% and a net margin of 22.41%. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business posted ($0.32) EPS. Uber Technologies’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares in the company, valued at $1,790,355. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,904 shares of company stock valued at $6,027,619 over the last quarter. 3.84% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC purchased a new position in Uber Technologies in the 1st quarter valued at approximately $27,000. Kozak & Associates Inc. raised its holdings in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 223 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Uber Technologies in the first quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its stake in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares during the last quarter. Finally, 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 acquiring an additional 306 shares during the period. 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.