Wells Fargo & Company Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER - Free Report) had its price target increased by Wells Fargo & Company from $90.00 to $100.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the ride-sharing company's stock.

A number of other research firms also recently weighed in on UBER. Fox Advisors downgraded Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. TD Cowen decreased their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price target on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Piper Sandler reaffirmed an "overweight" rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Finally, UBS Group reissued a "buy" rating on shares of Uber Technologies in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $92.69.

Uber Technologies Price Performance

NYSE UBER traded up $0.30 during trading on Thursday, reaching $82.60. 19,093,139 shares of the company traded hands, compared to its average volume of 20,143,975. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The company has a market cap of $172.73 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. The stock's 50 day moving average price is $74.72 and its two-hundred day moving average price is $71.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data 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 return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company posted ($0.32) earnings per share. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company's stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,904 shares of company stock valued at $6,027,619 in the last three months. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in UBER. Altfest L J & Co. Inc. bought a new stake in Uber Technologies during the first quarter worth about $751,000. Monetta Financial Services Inc. acquired a new stake in Uber Technologies in the first quarter valued at approximately $1,078,000. Charles Schwab Investment Management Inc. grew its stake in shares of Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after buying an additional 394,157 shares during the last quarter. Coign Capital Advisors LLC increased its holdings in shares of Uber Technologies by 14.2% during the first quarter. Coign Capital Advisors LLC now owns 7,917 shares of the ride-sharing company's stock worth $577,000 after buying an additional 984 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Uber Technologies in the 1st quarter valued at $15,650,000. Institutional investors and hedge funds own 80.24% of the company's stock.

About Uber Technologies

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.