Uber Technologies (NYSE:UBER) Given New $127.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for Uber Technologies from $119.00 to $127.00, indicating a potential upside of 41.05% from the previous close.
• Currently, Uber Technologies holds an average rating of "Moderate Buy" from analysts, with 29 ratings for Buy and only 10 for Hold.
• In its most recent earnings report, Uber exceeded analysts' expectations, reporting $0.63 EPS against a consensus estimate of $0.61, with revenues growing by 18.2% year-over-year.

Uber Technologies (NYSE:UBER - Free Report) had its price target hoisted by Wells Fargo & Company from $119.00 to $127.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the ride-sharing company's stock.

A number of other research firms also recently weighed in on UBER. Raymond James Financial upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Barclays reaffirmed an "overweight" rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. BMO Capital Markets upped their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Price Performance

Shares of NYSE UBER traded down $1.09 during trading on Friday, hitting $90.89. The company had a trading volume of 20,364,649 shares, compared to its average volume of 14,781,707. The business's 50-day moving average is $92.42 and its 200 day moving average is $84.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $97.71. The company has a market cap of $189.54 billion, a P/E ratio of 15.48, a PEG ratio of 1.04 and a beta of 1.43.

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

Insider Activity at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total transaction of $296,875.00. Following the sale, the insider directly owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,696 shares of company stock worth $4,632,774 over the last ninety days. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of the company. Reynders McVeigh Capital Management LLC increased its holdings in shares of Uber Technologies by 2.8% in the second quarter. Reynders McVeigh Capital Management LLC now owns 222,302 shares of the ride-sharing company's stock valued at $20,741,000 after purchasing an additional 6,130 shares in the last quarter. American Trust acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $231,000. Total Investment Management Inc. acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $32,000. Orion Porfolio Solutions LLC increased its holdings in shares of Uber Technologies by 21.0% in the second quarter. Orion Porfolio Solutions LLC now owns 74,222 shares of the ride-sharing company's stock valued at $6,925,000 after purchasing an additional 12,887 shares in the last quarter. Finally, Munro Partners acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $96,294,000. Institutional investors and hedge funds own 80.24% of the company's stock.

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.