Piper Sandler Boosts Uber Technologies (NYSE:UBER) Price Target to $88.00

Uber Technologies (NYSE:UBER) had its price objective lifted by Piper Sandler from $86.00 to $88.00 in a report published on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Tigress Financial boosted their target price on Uber Technologies from $72.00 to $96.00 and gave the stock a buy rating in a report on Friday, April 19th. Loop Capital decreased their price target on Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a report on Thursday, May 16th. Oppenheimer restated an outperform rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, June 5th. JMP Securities reiterated a market outperform rating and set a $80.00 target price on shares of Uber Technologies in a research note on Thursday, May 16th. Finally, Citigroup increased their target price on Uber Technologies from $93.00 to $96.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $84.41.

Uber Technologies Trading Up 3.3 %

Shares of UBER stock opened at $72.64 on Tuesday. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The stock has a market cap of $151.78 billion, a P/E ratio of 117.16, a P/E/G ratio of 1.55 and a beta of 1.37. The business has a fifty day simple moving average of $67.90 and a 200-day simple moving average of $69.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

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

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Tony West sold 28,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the transaction, the insider now directly owns 96,945 shares in the company, valued at approximately $6,851,103.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock valued at $42,258,297 over the last 90 days. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Uber Technologies by 15.0% in the 3rd quarter. Acadian Asset Management LLC now owns 31,891 shares of the ride-sharing company’s stock worth $1,464,000 after acquiring an additional 4,168 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in shares of Uber Technologies by 62.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 7,846 shares of the ride-sharing company’s stock worth $361,000 after buying an additional 3,009 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Uber Technologies by 32.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 6,895 shares of the ride-sharing company’s stock worth $317,000 after purchasing an additional 1,681 shares during the period. Natixis Advisors L.P. lifted its stake in Uber Technologies by 31.8% in the third quarter. Natixis Advisors L.P. now owns 21,206 shares of the ride-sharing company’s stock valued at $975,000 after purchasing an additional 5,120 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Uber Technologies by 59.7% during the third quarter. Parkside Financial Bank & Trust now owns 1,480 shares of the ride-sharing company’s stock worth $68,000 after acquiring an additional 553 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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.