Uber Technologies (NYSE:UBER) Price Target Increased to $97.00 by Analysts at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective boosted by Wells Fargo & Company from $91.00 to $97.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the ride-sharing company’s stock.

Several other brokerages have also issued reports on UBER. UBS Group decreased their target price on Uber Technologies from $100.00 to $95.00 and set a buy rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada reaffirmed an outperform rating and set a $80.00 target price on shares of Uber Technologies in a research report on Tuesday, May 28th. Wedbush reiterated an outperform rating and set a $85.00 price target on shares of Uber Technologies in a research note on Wednesday, May 8th. BMO Capital Markets reiterated an outperform rating and set a $92.00 price target on shares of Uber Technologies in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group cut their price target on Uber Technologies from $103.00 to $100.00 and set a buy rating for the company in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of Moderate Buy and an average price target of $87.47.

Uber Technologies Stock Up 5.3 %

NYSE UBER traded up $3.47 on Wednesday, reaching $69.01. The company had a trading volume of 21,761,896 shares, compared to its average volume of 19,319,678. The stock has a market capitalization of $144.20 billion, a P/E ratio of 111.31, a P/E/G ratio of 1.45 and a beta of 1.36. The company’s fifty day moving average is $68.29 and its 200 day moving average is $70.94. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

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 the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tony West sold 89,234 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total value of $6,083,974.12. Following the transaction, the insider now owns 124,945 shares in the company, valued at $8,518,750.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently made changes to their positions in the business. Stratos Wealth Advisors LLC bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $236,000. Bleakley Financial Group LLC boosted its position in shares of Uber Technologies by 7.4% during the fourth quarter. Bleakley Financial Group LLC now owns 29,104 shares of the ride-sharing company’s stock valued at $1,792,000 after purchasing an additional 2,006 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Uber Technologies by 6.5% during the fourth quarter. Strategic Blueprint LLC now owns 6,603 shares of the ride-sharing company’s stock valued at $407,000 after purchasing an additional 405 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Uber Technologies by 23.4% during the fourth quarter. International Assets Investment Management LLC now owns 11,739 shares of the ride-sharing company’s stock valued at $723,000 after purchasing an additional 2,225 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in shares of Uber Technologies by 48.3% during the fourth quarter. HBK Sorce Advisory LLC now owns 12,482 shares of the ride-sharing company’s stock valued at $769,000 after purchasing an additional 4,064 shares in the last quarter. 80.24% of the stock is currently owned by 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.