Uber Technologies (NYSE:UBER) Given New $102.00 Price Target at Citigroup

Uber Technologies (NYSE:UBER - Get Free Report) had its price objective boosted by investment analysts at Citigroup from $92.00 to $102.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the ride-sharing company's stock. Citigroup's price objective would suggest a potential upside of 23.32% from the stock's current price.

Several other equities research analysts also recently issued reports on UBER. KeyCorp lifted their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday. TD Cowen cut their target price on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Uber Technologies from $80.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a research note on Monday. Finally, Evercore ISI reduced their target price on shares of Uber Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research note 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. According to MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.69.

Uber Technologies Price Performance

NYSE:UBER traded down $0.94 during trading hours on Thursday, reaching $82.71. 17,405,438 shares of the company traded hands, compared to its average volume of 20,411,241. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a market cap of $173.01 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The firm's 50-day moving average is $74.42 and its 200-day moving average is $71.56.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) earnings per share. Equities research analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 sale, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,904 shares of company stock valued at $6,027,619. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares during the period. Capital Research Global Investors boosted its stake in shares of Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Uber Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the last quarter. Capital World Investors increased its position in shares of Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

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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