Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Loop Capital Analyst Says

Uber Technologies (NYSE:UBER - Get Free Report) had its target price upped by Loop Capital from $89.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the ride-sharing company's stock. Loop Capital's target price indicates a potential upside of 16.72% from the stock's previous close.

Other research analysts have also issued research reports about the company. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Arete Research upgraded Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Raymond James increased their price objective on shares of Uber Technologies from $95.00 to $100.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $87.00 target price (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Finally, KGI Securities reaffirmed a "neutral" rating and set a $78.00 price target on shares of Uber Technologies in a research note on Tuesday, March 11th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.69.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded down $1.91 on Wednesday, hitting $89.96. The company's stock had a trading volume of 7,822,609 shares, compared to its average volume of 23,452,184. 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 firm has a fifty day moving average price of $77.21 and a 200-day moving average price of $72.21. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $93.60. The company has a market capitalization of $188.11 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

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

Insider Activity

In related news, insider Tony West sold 23,404 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company's stock, valued at approximately $1,662,150. The trade was a 11.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,788 shares of company stock worth $6,517,070. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its position in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies in the first quarter worth $2,207,743,000. Norges Bank acquired a new position in shares of Uber Technologies during the fourth quarter valued at $1,467,754,000. Jennison Associates LLC boosted its holdings in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Finally, Boston Partners bought a new position in shares of Uber Technologies during the fourth quarter worth about $381,057,000. Institutional investors and hedge funds 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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