Uber Technologies (NYSE:UBER) Price Target Raised to $100.00

Key Points

• Uber Technologies' stock price target has been increased by the Royal Bank Of Canada from $94.00 to $100.00, indicating a potential upside of 11.26%.
• Multiple analysts have revised their target prices for Uber, with Susquehanna setting it at $105.00 and KeyCorp at $110.00, highlighting a generally positive outlook on the company's stock.
• In its latest quarterly earnings, Uber reported earnings per share of $0.63, surpassing expectations and showing an 18.2% year-over-year revenue growth.

Uber Technologies (NYSE:UBER - Get Free Report) had its target price boosted by equities research analysts at Royal Bank Of Canada from $94.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the ride-sharing company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 11.26% from the company's current price.

Other research analysts have also issued reports about the stock. Susquehanna upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday. KeyCorp increased 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. Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Barclays reiterated an "overweight" rating and set a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday. Finally, Wedbush decreased their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.40.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $0.66 during midday trading on Thursday, reaching $89.88. The company's stock had a trading volume of 15,095,914 shares, compared to its average volume of 22,284,473. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The business's 50 day moving average price is $89.17 and its two-hundred day moving average price is $80.74. The company has a market cap of $187.95 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.03 and a beta of 1.43.

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. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, analysts forecast that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the company'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 completion of the sale, the insider owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

A number of large investors have recently bought and sold shares of UBER. Midwest Trust Co acquired a new position in Uber Technologies in the second quarter worth $322,000. FDx Advisors Inc. acquired a new position in shares of Uber Technologies during the second quarter valued at $206,000. Acadian Asset Management LLC lifted its stake in shares of Uber Technologies by 788.8% during the second quarter. Acadian Asset Management LLC now owns 525,896 shares of the ride-sharing company's stock valued at $49,058,000 after acquiring an additional 466,728 shares during the period. GS Investments Inc. lifted its stake in shares of Uber Technologies by 2,361.8% during the second quarter. GS Investments Inc. now owns 11,078 shares of the ride-sharing company's stock valued at $1,034,000 after acquiring an additional 10,628 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its stake in shares of Uber Technologies by 4.4% during the second quarter. Sound View Wealth Advisors Group LLC now owns 3,051 shares of the ride-sharing company's stock valued at $285,000 after acquiring an additional 129 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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