Piper Sandler Cuts Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its price objective cut by Piper Sandler from $98.00 to $82.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

A number of other equities research analysts also recently issued reports on the stock. DA Davidson boosted their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Daiwa America downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Thursday, October 31st. JMP Securities downgraded shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research report on Thursday, January 2nd. Finally, Evercore ISI boosted their price objective on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.08.

Uber Technologies Price Performance

Shares of UBER opened at $68.08 on Tuesday. The firm has a market cap of $143.35 billion, a PE ratio of 33.87, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $65.83 and a two-hundred day simple moving average of $70.19. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Uber Technologies will post 1.86 EPS for the current year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Ascent Wealth Partners LLC bought a new position in Uber Technologies in the 3rd quarter worth about $2,087,000. Teachers Retirement System of The State of Kentucky grew its stake in Uber Technologies by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Aviso Wealth Management bought a new position in Uber Technologies in the 3rd quarter worth about $2,302,000. Polianta Ltd bought a new position in Uber Technologies in the 4th quarter worth about $1,206,000. Finally, Brophy Wealth Management LLC bought a new position in Uber Technologies in the 3rd quarter worth about $1,041,000. 80.24% of the stock is owned by hedge funds and other 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.