Uber Technologies (NYSE:UBER) Price Target Raised to $84.00

Uber Technologies (NYSE:UBER) had its target price upped by DA Davidson from $82.00 to $84.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

A number of other analysts have also commented on the company. KeyCorp reduced their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Thursday, October 31st. Bank of America upped their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen raised their target price on shares of Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $72.04 on Wednesday. Uber Technologies has a 1 year low of $49.02 and a 1 year high of $87.00. The firm’s 50-day moving average is $75.45 and its 200 day moving average is $70.96. The stock has a market cap of $151.70 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 0.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Sell-side analysts anticipate that Uber Technologies will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in the company. Ascent Wealth Partners LLC purchased a new stake in shares of Uber Technologies during the 3rd quarter worth approximately $2,087,000. Aptus Capital Advisors LLC increased its position in Uber Technologies by 17.1% in the second quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock worth $688,000 after purchasing an additional 1,383 shares during the last quarter. Lederer & Associates Investment Counsel CA purchased a new stake in Uber Technologies during the third quarter valued at $799,000. Samlyn Capital LLC bought a new position in Uber Technologies during the second quarter valued at $134,987,000. Finally, Hedeker Wealth LLC bought a new stake in shares of Uber Technologies in the 3rd quarter worth about $6,519,000. 80.24% of the stock is currently 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.