Bank of America Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER - Get Free Report) had its price target upped by stock analysts at Bank of America from $96.00 to $97.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the ride-sharing company's stock. Bank of America's price objective would indicate a potential upside of 16.87% from the company's current price.

UBER has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Uber Technologies from $80.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. Benchmark reaffirmed a "hold" rating on shares of Uber Technologies in a report on Friday, January 31st. Truist Financial boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Citigroup reduced their price target on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.38.

Uber Technologies Price Performance

Shares of UBER stock traded down $0.65 during midday trading on Thursday, reaching $83.00. 14,814,467 shares of the company were exchanged, compared to its average volume of 20,398,805. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00. The company's 50 day moving average price is $74.42 and its two-hundred day moving average price is $71.56. The company has a market cap of $173.62 billion, a P/E ratio of 18.20, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Uber Technologies's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) earnings per share. On average, sell-side analysts expect that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 23,404 shares of the stock in a transaction 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 sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 31,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company's stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,904 shares of company stock valued at $6,027,619. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently modified their holdings of UBER. Navalign LLC lifted its position in Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after acquiring an additional 126 shares in the last quarter. Grove Bank & Trust boosted its holdings in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP increased its stake in Uber Technologies by 1.3% in the 1st 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 in the last quarter. CBIZ Investment Advisory Services LLC lifted 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 valued at $34,000 after acquiring an additional 138 shares in the last quarter. Finally, Amplius Wealth Advisors LLC boosted its stake in shares of Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after acquiring an additional 145 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.

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