Bank of America Increases Uber Technologies (NYSE:UBER) Price Target to $115.00

Uber Technologies (NYSE:UBER - Free Report) had its price target raised by Bank of America from $97.00 to $115.00 in a research report sent to investors on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the ride-sharing company's stock.

Several other research analysts also recently weighed in on UBER. The Goldman Sachs Group increased their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company increased their price target on shares of Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday. UBS Group increased their price target on shares of Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, KGI Securities reiterated a "neutral" rating and issued a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $95.97.

Uber Technologies Stock Performance

UBER stock traded down $0.96 on Tuesday, hitting $96.52. The company had a trading volume of 14,832,448 shares, compared to its average volume of 21,209,866. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $97.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock's 50-day simple moving average is $87.63 and its 200 day simple moving average is $76.92. The stock has a market cap of $201.84 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.23 and a beta of 1.40.

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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the company posted ($0.32) earnings per share. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider directly 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 filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer directly owned 21,063 shares of the company's stock, valued at $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of 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 worth $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Capital Research Global Investors grew 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 worth $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 1,061,088 shares in the last quarter. Capital World Investors grew its stake in shares of Uber Technologies by 10.1% in 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 buying an additional 2,792,039 shares in the last quarter. Finally, Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter worth $2,207,743,000. 80.24% of the stock is owned by hedge funds and other 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.