Truist Financial Raises Uber Technologies (NYSE:UBER) Price Target to $88.00

Uber Technologies (NYSE:UBER) had its price target upped by equities researchers at Truist Financial from $86.00 to $88.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Truist Financial’s target price indicates a potential upside of 30.20% from the company’s current price.

A number of other brokerages have also issued reports on UBER. Moffett Nathanson reaffirmed a “buy” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Thursday, April 11th. Wolfe Research started coverage on Uber Technologies in a research report on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price target on the stock. Piper Sandler upped their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. Melius Research started coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Uber Technologies in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $86.61.

Uber Technologies Stock Up 4.2 %

Uber Technologies stock traded up $2.72 during midday trading on Wednesday, hitting $67.59. 4,528,113 shares of the company were exchanged, compared to its average volume of 19,124,924. The company’s fifty day moving average price is $68.28 and its 200-day moving average price is $70.98. The company has a market cap of $141.23 billion, a PE ratio of 107.89, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period in the prior year, the company posted $0.18 EPS. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that Uber Technologies will post 0.84 EPS for the current fiscal year.

Insider Activity

In related news, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 sold a total of 1,135,984 shares of company stock valued at $78,213,297 over the last three months. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UBER. Covenant Asset Management LLC increased its holdings in shares of Uber Technologies by 0.3% during the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after acquiring an additional 157 shares during the last quarter. Hilltop Holdings Inc. grew its holdings in Uber Technologies by 2.9% in the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after buying an additional 157 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after buying an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC grew its holdings in Uber Technologies by 6.1% in the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after buying an additional 159 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in Uber Technologies by 3.2% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock valued at $398,000 after buying an additional 160 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.