Uber Technologies (NYSE:UBER) Price Target Raised to $110.00 at The Goldman Sachs Group

Uber Technologies (NYSE:UBER - Get Free Report) had its target price increased by equities researchers at The Goldman Sachs Group from $96.00 to $110.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the ride-sharing company's stock. The Goldman Sachs Group's target price points to a potential upside of 32.43% from the stock's previous close.

UBER has been the topic of a number of other research reports. TD Cowen lowered their target price on Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Arete Research raised Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Finally, KGI Securities reiterated a "neutral" rating and set a $78.00 price target on shares of Uber Technologies in a report on Tuesday, March 11th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $91.16.

Uber Technologies Trading Down 0.7 %

Shares of UBER stock traded down $0.59 on Thursday, hitting $83.06. The stock had a trading volume of 8,487,079 shares, compared to its average volume of 20,375,164. The firm has a market cap of $173.74 billion, a P/E ratio of 18.21, a PEG ratio of 0.89 and a beta of 1.43. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $74.42 and a two-hundred day moving average price of $71.56.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the prior year, the business earned ($0.32) EPS. Uber Technologies's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 23,404 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were 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 directly owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds have recently modified their holdings of UBER. Vanguard Group Inc. lifted its holdings in Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares during the last quarter. Capital Research Global Investors grew its stake in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock worth $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Capital World Investors grew its holdings in shares of Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Institutional investors 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.

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