Uber Technologies (NYSE:UBER) Sets New 12-Month High on Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $100.00 to $120.00. Wells Fargo & Company currently has an overweight rating on the stock. Uber Technologies traded as high as $97.12 and last traded at $96.67, with a volume of 29774053 shares trading hands. The stock had previously closed at $93.63.

Several other research firms have also recently weighed in on UBER. Citigroup lifted their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. KGI Securities reaffirmed a "neutral" rating and set a $78.00 price objective on shares of Uber Technologies in a research report on Tuesday, March 11th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. Bank of America boosted their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and an average target price of $95.44.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer owned 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UBER. Transce3nd LLC bought a new position in Uber Technologies during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Kozak & Associates Inc. lifted its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $27,000. Finally, Vision Financial Markets LLC bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $27,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Stock Performance

The company has a market capitalization of $202.15 billion, a P/E ratio of 16.93, a PEG ratio of 1.19 and a beta of 1.40. The stock has a fifty day simple moving average of $87.27 and a 200-day simple moving average of $76.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the firm posted ($0.32) EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.