Tigress Financial Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its price objective raised by Tigress Financial from $96.00 to $103.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. Tigress Financial’s price target would suggest a potential upside of 40.29% from the company’s previous close.

Other analysts also recently issued reports about the company. Citigroup upped their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JMP Securities increased their target price on Uber Technologies from $80.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Finally, DA Davidson raised their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.51.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $1.91 on Monday, reaching $73.42. The company’s stock had a trading volume of 17,408,852 shares, compared to its average volume of 18,324,096. The stock has a 50-day moving average price of $75.47 and a 200-day moving average price of $71.13. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a market capitalization of $154.60 billion, a P/E ratio of 36.53, a PEG ratio of 0.92 and a beta of 1.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts expect that Uber Technologies will post 1.83 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was 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 approximately $9,169,344. This trade represents a 23.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Redwood Investment Management LLC acquired a new stake in Uber Technologies during the first quarter valued at approximately $259,000. Tidal Investments LLC increased its stake in Uber Technologies by 147.5% during the first quarter. Tidal Investments LLC now owns 165,951 shares of the ride-sharing company’s stock valued at $12,777,000 after purchasing an additional 98,897 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Uber Technologies during the first quarter worth $9,046,000. SkyView Investment Advisors LLC boosted its holdings in shares of Uber Technologies by 2.0% in the 1st quarter. SkyView Investment Advisors LLC now owns 27,595 shares of the ride-sharing company’s stock valued at $2,125,000 after buying an additional 547 shares during the period. Finally, Hancock Whitney Corp bought a new stake in shares of Uber Technologies during the 1st quarter valued at about $15,379,000. 80.24% of the stock is owned by hedge funds and other 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.