Aurora Innovation, Inc. (NASDAQ:AUR) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Aurora Innovation a “Moderate Buy” overall: Eight of 12 covering analysts recommend buying, two rate it hold, and two recommend selling. Their average one-year price target is $12.56.
• Recent analyst actions were mixed: Canaccord raised its target to $17 and maintained a buy rating, while Goldman Sachs cut its target to $6 and set a neutral rating.
• Aurora met quarterly EPS expectations at a loss of $0.12 per share and reported $3 million in revenue, up 200% year over year. Insiders sold about 2.88 million shares worth roughly $20.2 million over the past 90 days.

Shares of Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.56.

A number of equities research analysts recently issued reports on AUR shares. Evercore restated an "outperform" rating on shares of Aurora Innovation in a research note on Tuesday, September 15th. Zacks Research downgraded shares of Aurora Innovation from a "hold" rating to a "strong sell" rating in a report on Monday, October 12th. The Goldman Sachs Group cut their target price on shares of Aurora Innovation from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, October 29th. Canaccord Genuity Group lifted their target price on shares of Aurora Innovation from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. Finally, Needham & Company LLC lowered their price target on shares of Aurora Innovation from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, October 29th.

Insider Activity at Aurora Innovation

In related news, Director Michelangelo Volpi sold 2,842,682 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $7.00, for a total value of $19,898,774.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 2,880,099 shares of company stock worth $20,160,918. Corporate insiders own 8.52% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

Several institutional investors have recently made changes to their positions in AUR. Bank of America Corp DE boosted its holdings in shares of Aurora Innovation by 130.0% in the first quarter. Bank of America Corp DE now owns 30,036,169 shares of the company's stock worth $123,749,000 after acquiring an additional 16,975,927 shares during the period. State Street Corp raised its stake in shares of Aurora Innovation by 6.0% during the 2nd quarter. State Street Corp now owns 22,922,729 shares of the company's stock valued at $156,333,000 after purchasing an additional 1,293,487 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Aurora Innovation by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,807,009 shares of the company's stock valued at $48,621,000 after purchasing an additional 490,659 shares during the period. Janus Henderson Group PLC lifted its holdings in Aurora Innovation by 2,068.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,243,080 shares of the company's stock worth $46,319,000 after purchasing an additional 10,724,682 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Aurora Innovation during the 2nd quarter worth about $25,893,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Aurora Innovation Price Performance

NASDAQ:AUR opened at $4.65 on Tuesday. The company has a market capitalization of $9.32 billion, a P/E ratio of -9.69 and a beta of 2.81. The business has a fifty day simple moving average of $5.51 and a two-hundred day simple moving average of $5.60. Aurora Innovation has a 1 year low of $3.60 and a 1 year high of $8.56.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). The firm had revenue of $3.00 million for the quarter, compared to analysts' expectations of $2.99 million. Aurora Innovation had a negative return on equity of 48.39% and a negative net margin of 13,328.57%. The business's quarterly revenue was up 200.0% compared to the same quarter last year. As a group, analysts anticipate that Aurora Innovation will post -0.48 earnings per share for the current year.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous vehicle technology through its Aurora Driver platform, which combines self-driving software, sensors and computing hardware. The system is designed for use in commercial trucking and passenger mobility applications.

Founded in 2017 by Chris Urmson, Sterling Anderson and Drew Bagnell, the company is headquartered in Pittsburgh, Pennsylvania. Aurora has focused on autonomous freight transportation in the United States, including development and testing of self-driving truck operations.

Aurora works with industry partners to develop and deploy vehicles equipped with its technology.

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