Uber Technologies (NYSE:UBER) Price Target Raised to $102.00

Uber Technologies (NYSE:UBER) had its target price lifted by Citigroup from $92.00 to $102.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the ride-sharing company’s stock.

Several other analysts have also recently weighed in on UBER. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday. KGI Securities reiterated a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. TD Cowen decreased their price target on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Finally, Wells Fargo & Company upped their target price on shares of Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $82.60 on Thursday. The company has a 50 day moving average of $74.72 and a 200 day moving average of $71.53. 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 cap of $172.73 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00.

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, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the business earned ($0.32) EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. The trade was a 26.28 % 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 owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Noble Wealth Management PBC bought a new position in Uber Technologies in the first quarter worth $27,000. Kozak & Associates Inc. increased its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Uber Technologies during the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC boosted its stake in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co grew its holdings in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 306 shares during the period. Hedge funds and other 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.