Uber Technologies (NYSE:UBER) Price Target Raised to $115.00

Key Points

• UBS Group raised its price target for Uber Technologies from $107.00 to $115.00, suggesting a 31.98% potential upside from the stock's previous close.
• Uber's stock is currently trading down 3.8% at $87.14, with a 52-week range between $54.84 and $97.71.
• Despite the current dip, the company has received strong ratings, with 29 analysts assigning a buy rating and an average target price of $100.71.

Uber Technologies (NYSE:UBER - Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $107.00 to $115.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the ride-sharing company's stock. UBS Group's target price would indicate a potential upside of 31.98% from the stock's previous close.

UBER has been the subject of several other reports. Piper Sandler lifted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. KeyCorp boosted their target price on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Stifel Nicolaus initiated coverage on Uber Technologies in a research report on Wednesday, June 11th. They set a "buy" rating and a $110.00 target price for the company. The Goldman Sachs Group boosted their target price on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $100.71.

Uber Technologies Stock Down 3.8%

NYSE:UBER traded down $3.46 on Tuesday, hitting $87.14. The stock had a trading volume of 7,738,149 shares, compared to its average volume of 22,226,463. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $97.71. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The business's fifty day moving average is $89.25 and its 200 day moving average is $79.89. The company has a market cap of $182.22 billion, a PE ratio of 15.30, a P/E/G ratio of 1.05 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 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 13.8% compared to the same quarter last year. During the same period last year, the company posted ($0.32) earnings per share. On average, equities research analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock worth $3,496,071 over the last three months. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently bought and sold shares of the stock. Nova Wealth Management Inc. increased its stake in Uber Technologies by 41.0% in the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after buying an additional 125 shares in the last quarter. Navalign LLC increased its stake in Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after buying an additional 126 shares in the last quarter. Atticus Wealth Management LLC increased its stake in Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after buying an additional 127 shares in the last quarter. Grove Bank & Trust increased its stake in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares in the last quarter. Finally, Forum Financial Management LP increased its stake in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after buying an additional 136 shares in the last quarter. 80.24% of the stock is 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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