Uber Technologies (NYSE:UBER) Price Target Raised to $113.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Uber Technologies (NYSE:UBER) from $101 to $113, reflecting a potential upside of 26.41% from its previous close.
• Analysts are generally optimistic about Uber, with 30 buy ratings against 10 hold ratings, indicating a consensus of Moderate Buy status for the stock.
• In the last quarter, Uber reported $12.65 billion in revenue, surpassing estimates, and achieving earnings of $0.63 per share, beating consensus expectations by $0.02.

Uber Technologies (NYSE:UBER - Get Free Report) had its price objective boosted by equities researchers at BMO Capital Markets from $101.00 to $113.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm presently has an "outperform" rating on the ride-sharing company's stock. BMO Capital Markets' target price would indicate a potential upside of 22.04% from the company's current price.

A number of other research analysts have also commented on UBER. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating and set a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Susquehanna increased their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday. Raymond James Financial downgraded shares of Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. Finally, UBS Group upped their price objective on shares of Uber Technologies from $107.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $102.46.

Uber Technologies Stock Up 3.8%

NYSE UBER traded up $3.37 during trading on Thursday, reaching $92.59. The company's stock had a trading volume of 28,482,482 shares, compared to its average volume of 22,378,143. The business has a 50-day moving average price of $89.33 and a 200-day moving average price of $80.91. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $97.71. The stock has a market capitalization of $193.63 billion, a PE ratio of 16.22, a PEG ratio of 1.03 and a beta of 1.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company earned $0.47 EPS. The company's revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

Several large investors have recently modified their holdings of the stock. Nova Wealth Management Inc. increased its stake in Uber Technologies by 41.0% in the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 125 shares during the last quarter. Navalign LLC increased its position in shares of Uber Technologies by 0.5% during the fourth 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 during the last quarter. Atticus Wealth Management LLC boosted its position in Uber Technologies by 39.8% in the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 127 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its position in shares of Uber Technologies by 4.4% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 3,051 shares of the ride-sharing company's stock valued at $285,000 after purchasing an additional 129 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.