JPMorgan Chase & Co. Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $80.00 to $92.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the ride-sharing company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 10.67% from the company's previous close.

A number of other brokerages have also weighed in on UBER. Piper Sandler reiterated an "overweight" rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a report on Thursday, February 6th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.87.

Uber Technologies Stock Down 0.6 %

Shares of NYSE UBER traded down $0.52 during mid-day trading on Thursday, reaching $83.13. 11,729,778 shares of the company's stock traded hands, compared to its average volume of 23,260,795. The stock has a market cap of $173.89 billion, a P/E ratio of 18.23, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The business has a 50-day simple moving average of $74.42 and a 200 day simple moving average of $71.56.

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

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,904 shares of company stock valued at $6,027,619. 3.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies in the first quarter worth $27,000. Kozak & Associates Inc. raised its position in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its stake in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co grew its holdings in shares of 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 last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Uber Technologies during the 4th quarter valued at about $27,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

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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