Piper Sandler Boosts Uber Technologies (NYSE:UBER) Price Target to $103.00

Uber Technologies (NYSE:UBER - Free Report) had its target price lifted by Piper Sandler from $95.00 to $103.00 in a report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the ride-sharing company's stock.

A number of other equities research analysts have also recently weighed in on UBER. Bank of America lifted their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. KeyCorp upped their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Needham & Company LLC set a $109.00 price objective on Uber Technologies and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Barclays upped their price objective on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.26.

Uber Technologies Trading Down 0.6%

Uber Technologies stock traded down $0.58 during trading on Thursday, reaching $90.29. 1,873,503 shares of the company were exchanged, compared to its average volume of 22,329,051. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $97.71. The company has a market capitalization of $188.82 billion, a P/E ratio of 15.81, a PEG ratio of 1.04 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50 day simple moving average is $89.30 and its two-hundred day simple moving average is $79.34.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating 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 company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the business earned ($0.32) earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies 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 of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was 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 owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,384 shares of company stock worth $3,496,071. Corporate insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently bought and sold shares of UBER. Apollon Wealth Management LLC boosted its stake in Uber Technologies by 23.0% in the second quarter. Apollon Wealth Management LLC now owns 24,783 shares of the ride-sharing company's stock valued at $2,312,000 after acquiring an additional 4,641 shares during the period. Hemington Wealth Management raised its holdings in Uber Technologies by 18.0% during the second quarter. Hemington Wealth Management now owns 2,293 shares of the ride-sharing company's stock worth $213,000 after purchasing an additional 349 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Uber Technologies by 8.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 55,007 shares of the ride-sharing company's stock worth $5,132,000 after purchasing an additional 4,237 shares in the last quarter. Fulcrum Capital LLC bought a new stake in Uber Technologies during the second quarter worth approximately $6,373,000. Finally, DSM Capital Partners LLC raised its holdings in Uber Technologies by 4.5% during the second quarter. DSM Capital Partners LLC now owns 2,625,476 shares of the ride-sharing company's stock worth $244,957,000 after purchasing an additional 113,330 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.