DA Davidson Raises Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its price target lifted by DA Davidson from $81.00 to $82.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $80.00 price target on shares of Uber Technologies in a research note on Tuesday, May 28th. Melius Research began coverage on Uber Technologies in a report on Monday, July 22nd. They issued a hold rating and a $77.00 price objective for the company. Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an outperform rating and a $90.00 price target for the company. Citigroup boosted their price objective on shares of Uber Technologies from $93.00 to $96.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley raised their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an overweight rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $87.47.

Uber Technologies Trading Down 0.7 %

NYSE UBER opened at $68.54 on Wednesday. The stock’s 50-day simple moving average is $68.47 and its two-hundred day simple moving average is $71.00. Uber Technologies has a twelve month low of $40.09 and a twelve month 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. The company has a market capitalization of $143.22 billion, a price-to-earnings ratio of 110.55, a PEG ratio of 1.45 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Research analysts forecast that Uber Technologies will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were 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 $13,541,962.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 $13,541,962.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Uber Technologies by 34.8% during the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after purchasing an additional 43,275,830 shares during the period. Norges Bank bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $1,415,778,000. Edgewood Management LLC purchased a new position in shares of Uber Technologies in the fourth quarter worth $783,401,000. Price T Rowe Associates Inc. MD boosted its position in shares of Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. Finally, GQG Partners LLC grew its stake in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 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.