Uber Technologies (NYSE:UBER) Given New $117.00 Price Target at UBS Group

Key Points

• UBS Group has raised Uber Technologies' price target from $115.00 to $117.00, indicating a potential upside of 28.74% from its previous close.
• Shareholders of Uber recently observed a trading volume of approximately 19 million shares, with the stock price reaching $90.88.
• Uber reported earnings of $0.63 per share for the last quarter, surpassing analysts' expectations of $0.61 and reflecting an 18.2% year-over-year revenue increase.

Uber Technologies (NYSE:UBER - Get Free Report) had its price target increased by equities research analysts at UBS Group from $115.00 to $117.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the ride-sharing company's stock. UBS Group's price objective suggests a potential upside of 28.74% from the stock's previous close.

UBER has been the topic of several other research reports. Barclays restated an "overweight" rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday. Royal Bank Of Canada lifted their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday. Loop Capital restated a "buy" rating and issued a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Finally, Stifel Nicolaus increased their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.46.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $1.66 during trading on Thursday, reaching $90.88. The company's stock had a trading volume of 19,081,167 shares, compared to its average volume of 22,310,023. The business has a 50 day moving average price of $89.17 and a 200-day moving average price of $80.74. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $190.05 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. Uber Technologies has a 12-month low of $59.33 and a 12-month high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The company's revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Uber Technologies will post 2.54 EPS for the current year.

Insider Activity

In related news, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 102,135 shares in the company, valued at approximately $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 can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT lifted its stake in shares of Uber Technologies by 1.1% in the 2nd quarter. Zions Bancorporation National Association UT now owns 61,203 shares of the ride-sharing company's stock valued at $5,710,000 after purchasing an additional 657 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Uber Technologies in the second quarter valued at about $235,000. Midwest Trust Co bought a new stake in shares of Uber Technologies in the 2nd quarter valued at about $322,000. FDx Advisors Inc. bought a new position in Uber Technologies during the 2nd quarter worth approximately $206,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Uber Technologies by 788.8% in the 2nd quarter. Acadian Asset Management LLC now owns 525,896 shares of the ride-sharing company's stock valued at $49,058,000 after buying an additional 466,728 shares during the period. 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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