Aurora Innovation (NASDAQ:AUR) Price Target Raised to $13.00

Aurora Innovation (NASDAQ:AUR - Free Report) had its target price lifted by Needham & Company LLC from $10.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Oppenheimer began coverage on shares of Aurora Innovation in a research note on Thursday, March 27th. They issued an "outperform" rating and a $15.00 target price on the stock. Canaccord Genuity Group boosted their price target on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. TD Cowen began coverage on Aurora Innovation in a research report on Friday, March 7th. They set a "hold" rating and a $8.00 target price for the company. The Goldman Sachs Group raised shares of Aurora Innovation from a "sell" rating to a "neutral" rating and raised their target price for the company from $3.00 to $6.00 in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price target on shares of Aurora Innovation in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

Aurora Innovation Trading Down 7.4%

NASDAQ:AUR traded down $0.54 on Friday, reaching $6.78. 111,628,229 shares of the stock traded hands, compared to its average volume of 16,442,037. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of -14.43 and a beta of 2.76. Aurora Innovation has a 1-year low of $2.10 and a 1-year high of $10.77. The company's 50 day moving average is $6.77 and its 200-day moving average is $6.83.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). On average, equities research analysts forecast that Aurora Innovation will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Aurora Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Uber Technologies Inc acquired a new stake in shares of Aurora Innovation in the fourth quarter worth $2,053,632,000. Vanguard Group Inc. raised its position in shares of Aurora Innovation by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 115,413,401 shares of the company's stock valued at $776,155,000 after acquiring an additional 2,392,995 shares during the last quarter. Toyota Motor Corp bought a new position in Aurora Innovation during the 4th quarter worth approximately $298,294,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Aurora Innovation by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,671,319 shares of the company's stock valued at $168,030,000 after purchasing an additional 3,237,609 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Aurora Innovation by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 23,374,230 shares of the company's stock valued at $147,292,000 after purchasing an additional 577,704 shares during the period. 44.71% of the stock is owned by institutional investors.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.