Uber Technologies (NYSE:UBER) Price Target Raised to $98.00

Uber Technologies (NYSE:UBER - Get Free Report) had its price target upped by equities researchers at DA Davidson from $80.00 to $98.00 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. DA Davidson's target price indicates a potential upside of 16.57% from the company's previous close.

UBER has been the topic of several other reports. KGI Securities restated a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. KeyCorp decreased their target price on Uber Technologies from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. UBS Group reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Friday, February 21st. Arete Research upgraded shares of Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Finally, Fox Advisors downgraded shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and an average price target of $90.39.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $84.07 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $74.42 and a 200 day moving average price of $71.56. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a market cap of $175.86 billion, a P/E ratio of 18.44, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Uber Technologies's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) earnings per share. Research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares in the company, valued at approximately $25,901,755.56. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,904 shares of company stock valued at $6,027,619. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avion Wealth increased its position in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock worth $26,000 after buying an additional 218 shares during the period. Transce3nd LLC bought a new stake in Uber Technologies in the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the 4th quarter valued at about $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $27,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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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