Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Uber Technologies (NYSE:UBER - Get Free Report) had its target price hoisted by analysts at Wells Fargo & Company from $100.00 to $120.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the ride-sharing company's stock. Wells Fargo & Company's price target points to a potential upside of 23.81% from the company's current price.

Other analysts also recently issued reports about the company. JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Fox Advisors downgraded Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. KGI Securities reissued a "neutral" rating and issued a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, May 7th. Finally, Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Thirteen analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $95.44.

Uber Technologies Stock Up 0.2%

Shares of NYSE:UBER traded up $0.24 during trading on Monday, hitting $96.92. 12,936,313 shares of the company were exchanged, compared to its average volume of 21,151,544. The stock has a market cap of $202.68 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.19 and a beta of 1.40. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $97.53. The firm has a fifty day moving average price of $87.27 and a two-hundred day moving average price of $76.78. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $11.61 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The firm's revenue was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate 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 the firm's 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer directly owned 21,063 shares in the company, valued at $1,790,355. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of large investors have recently modified their holdings of UBER. Transce3nd LLC bought a new stake in Uber Technologies during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in Uber Technologies during the fourth quarter worth about $27,000. Kozak & Associates Inc. boosted its stake in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in Uber Technologies during the first quarter worth about $27,000. Finally, Vision Financial Markets LLC bought a new stake in Uber Technologies during the first quarter worth about $27,000. 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.