Uber Technologies (NYSE:UBER) Given New $92.00 Price Target at Wolfe Research

Uber Technologies (NYSE:UBER) had its price target boosted by Wolfe Research from $90.00 to $92.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the ride-sharing company’s stock.

Other equities analysts have also issued research reports about the stock. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Thursday, October 31st. Truist Financial cut their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Six 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’s stock. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Trading Up 2.2 %

NYSE UBER opened at $64.59 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The firm’s fifty day simple moving average is $67.98 and its 200-day simple moving average is $70.69. The company has a market capitalization of $136.01 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. Edgewood Management LLC lifted its holdings in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the last quarter. AMF Tjanstepension AB acquired a new position in Uber Technologies in the third quarter valued at about $163,468,000. Janus Henderson Group PLC grew its stake in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after buying an additional 2,056,273 shares during the last quarter. Finally, Samlyn Capital LLC acquired a new stake in shares of Uber Technologies during the second quarter worth approximately $134,987,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.