Sanford C. Bernstein Increases Uber Technologies (NYSE:UBER) Price Target to $110.00

Uber Technologies (NYSE:UBER - Get Free Report) had its price objective boosted by equities researchers at Sanford C. Bernstein from $95.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the ride-sharing company's stock. Sanford C. Bernstein's price objective indicates a potential upside of 21.45% from the stock's current price.

A number of other brokerages also recently issued reports on UBER. Wells Fargo & Company lifted their price target on Uber Technologies from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Raymond James Financial cut Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, June 18th. Bank of America boosted their target price on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays upped their price objective on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Twelve analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $97.97.

Uber Technologies Stock Performance

NYSE:UBER opened at $90.57 on Monday. The company has a market capitalization of $189.40 billion, a PE ratio of 15.86, a P/E/G ratio of 1.15 and a beta of 1.40. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $97.72. The company has a 50 day simple moving average of $89.22 and a two-hundred day simple moving average of $78.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period last year, the business earned ($0.32) EPS. The business's revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Buying and Selling

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 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 Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,496,071 over the last 90 days. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Vanguard Group Inc. boosted its holdings in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Uber Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Capital World Investors increased its stake in shares of Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $2,207,743,000. 80.24% of the stock is currently 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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