Raymond James Raises Uber Technologies (NYSE:UBER) Price Target to $100.00

Uber Technologies (NYSE:UBER) had its price target upped by Raymond James from $95.00 to $100.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the ride-sharing company’s stock.

UBER has been the topic of several other reports. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday. UBS Group restated a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Truist Financial boosted their price target on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Arete Research upgraded Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Stock Up 0.4 %

Shares of NYSE UBER opened at $82.60 on Thursday. The stock has a market capitalization of $172.73 billion, a PE ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $74.72 and a 200-day moving average of $71.53. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00.

Uber Technologies (NYSE:UBER) last announced 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. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) earnings per share. On average, analysts anticipate that Uber Technologies will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated 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 transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’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 sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, 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. In the last three months, insiders have sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UBER. Navalign LLC grew its holdings in shares of Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after acquiring an additional 126 shares during the last quarter. Grove Bank & Trust lifted its stake in Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after buying an additional 133 shares in the last quarter. Forum Financial Management LP boosted its holdings in shares of Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC increased its position in shares of Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after acquiring an additional 138 shares in the last quarter. Finally, Amplius Wealth Advisors LLC raised its holdings in shares of Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock valued at $302,000 after acquiring an additional 145 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.