Loop Capital Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective increased by Loop Capital from $84.00 to $86.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Loop Capital’s price objective would indicate a potential upside of 15.44% from the stock’s previous close.

UBER has been the subject of several other research reports. DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Thursday, October 17th. UBS Group lifted their target price on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Monday, October 7th. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Bank of America raised their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Price Performance

Uber Technologies stock traded up $0.35 during trading hours on Wednesday, hitting $74.50. 19,377,938 shares of the stock were exchanged, compared to its average volume of 18,073,477. The stock has a market capitalization of $156.88 billion, a P/E ratio of 37.01, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies has a 12 month low of $46.68 and a 12 month high of $87.00. The business’s 50-day moving average is $75.40 and its two-hundred day moving average is $70.90.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. Equities research analysts expect that Uber Technologies will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. boosted its position in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares in the last quarter. WR Wealth Planners LLC grew its stake in Uber Technologies by 563.9% in the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Uber Technologies during the first quarter valued at approximately $32,000. MCF Advisors LLC raised its position in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 405 shares during the period. Finally, Founders Capital Management bought a new position in shares of Uber Technologies in the 2nd quarter worth $33,000. 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.