Uber Technologies (NYSE:UBER) Price Target Lowered to $119.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered Uber's target price from $120.00 to $119.00, although they maintain an "overweight" rating, indicating a potential upside of nearly 32% from the current price.
• Uber's stock recently traded up by 1.1%, reaching $90.20, with a significant trading volume reported.
• The company reported earnings per share of $0.63, exceeding expectations and reflecting a revenue increase of 18.2% year-over-year.

Uber Technologies (NYSE:UBER - Get Free Report) had its target price lowered by equities research analysts at Wells Fargo & Company from $120.00 to $119.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the ride-sharing company's stock. Wells Fargo & Company's target price would indicate a potential upside of 31.93% from the company's current price.

Several other equities analysts have also recently weighed in on UBER. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wedbush cut their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research note on Thursday. Citigroup boosted their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. KeyCorp raised their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Needham & Company LLC raised their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $102.40.

Uber Technologies Stock Up 1.1%

Shares of Uber Technologies stock traded up $0.98 during midday trading on Thursday, reaching $90.20. 13,020,771 shares of the company's stock traded hands, compared to its average volume of 22,270,078. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $97.71. The company's 50 day simple moving average is $89.17 and its 200 day simple moving average is $80.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $188.63 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company's revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value 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. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently bought and sold shares of the business. West Oak Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter valued at about $28,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $30,000. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies in the first quarter valued at $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Finally, Vision Financial Markets LLC bought a new position in Uber Technologies during the first quarter valued at $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.

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