Uber Technologies (NYSE:UBER) Price Target Raised to $91.00 at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective upped by investment analysts at Wells Fargo & Company from $89.00 to $91.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 25.57% from the company’s current price.

Several other research analysts also recently commented on UBER. TD Cowen reduced their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, June 5th. Wedbush restated an “outperform” rating and issued a $85.00 target price on shares of Uber Technologies in a research note on Wednesday, May 8th. Roth Mkm reaffirmed a “buy” rating and issued a $89.00 price target (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.41.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $2.13 during midday trading on Friday, reaching $72.47. 8,389,980 shares of the company traded hands, compared to its average volume of 19,360,221. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50-day simple moving average is $67.83 and its 200-day simple moving average is $69.66. The firm has a market cap of $151.43 billion, a PE ratio of 117.10, a PEG ratio of 1.55 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) earnings per share. As a group, equities analysts anticipate that Uber Technologies will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Tony West sold 18,750 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 635,984 shares of company stock valued at $42,258,297. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UBER. Financial Management Professionals Inc. boosted its stake in Uber Technologies by 111.6% in the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 202 shares in the last quarter. CVA Family Office LLC bought a new stake in Uber Technologies in the fourth quarter worth approximately $30,000. Highlander Capital Management LLC raised its holdings in shares of Uber Technologies by 100.0% during the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 250 shares during the period. Bfsg LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth approximately $31,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of Uber Technologies by 49.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. 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.