Uber Technologies (NYSE:UBER) Price Target Raised to $124.00

Key Points

• Stifel Nicolaus raised its price target for Uber Technologies from $116.00 to $124.00, indicating a potential upside of 30.85% from the company's previous close.
• Uber Technologies reported $12.65 billion in revenue for the last quarter, exceeding analysts' expectations, with a year-over-year growth of 18.2%.
• Currently, Uber's stock holds a consensus rating of "Moderate Buy" with three analysts giving it a Strong Buy rating and 28 issuing Buy ratings.

Uber Technologies (NYSE:UBER - Get Free Report) had its price objective lifted by research analysts at Stifel Nicolaus from $116.00 to $124.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the ride-sharing company's stock. Stifel Nicolaus' target price would suggest a potential upside of 30.85% from the company's previous close.

Several other equities analysts have also weighed in on UBER. Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wedbush decreased their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Wells Fargo & Company cut their target price on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a research note on Friday, October 3rd. Finally, Mizuho initiated coverage on shares of Uber Technologies in a research note on Monday, September 29th. They set an "outperform" rating and a $130.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $105.91.

Uber Technologies Price Performance

Uber Technologies stock traded up $0.15 during trading hours on Friday, hitting $94.76. 2,115,326 shares of the company traded hands, compared to its average volume of 20,683,910. The firm has a market cap of $197.62 billion, a P/E ratio of 16.16 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $95.40 and its two-hundred day simple moving average is $89.18. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. As a group, analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony West sold 100,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,946 shares of company stock worth $58,950,116 in the last three months. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies in the first quarter valued at approximately $2,207,743,000. Norges Bank bought a new stake in Uber Technologies during the second quarter worth $2,348,319,000. Kingstone Capital Partners Texas LLC lifted its holdings in Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Pacer Advisors Inc. lifted its holdings in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after acquiring an additional 6,254,898 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 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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