Uber Technologies (NYSE:UBER) Price Target Increased to $91.00 by Analysts at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective upped by equities researchers at Wells Fargo & Company from $89.00 to $91.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 25.57% from the company’s current price.

Several other brokerages have also recently issued reports on UBER. Truist Financial upped their target price on shares of Uber Technologies from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Tigress Financial increased their price objective on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a report on Friday, April 19th. DA Davidson reissued a “buy” rating and set a $81.00 price objective on shares of Uber Technologies in a research report on Wednesday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Uber Technologies in a research note on Tuesday, May 28th. Finally, TD Cowen decreased their price objective on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $84.41.

Uber Technologies Stock Up 3.0 %

Shares of NYSE:UBER traded up $2.13 during trading hours on Friday, reaching $72.47. The stock had a trading volume of 8,389,980 shares, compared to its average volume of 19,360,221. The stock has a market capitalization of $151.43 billion, a price-to-earnings ratio of 117.10, a P/E/G ratio of 1.55 and a beta of 1.37. The firm’s 50 day moving average is $67.83 and its 200-day moving average is $69.66. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $82.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same period last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts predict that Uber Technologies will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tony West sold 18,750 shares of the business’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 value of $1,230,562.50. Following the completion of the transaction, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s 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 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 filing with the SEC, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were 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 of the company’s stock, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock valued at $42,258,297 in the last ninety days. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently modified their holdings of UBER. EverSource Wealth Advisors LLC increased its holdings in Uber Technologies by 2.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,354 shares of the ride-sharing company’s stock valued at $566,000 after purchasing an additional 190 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $757,000. Soltis Investment Advisors LLC acquired a new position in shares of Uber Technologies during the first quarter worth $238,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Uber Technologies in the first quarter valued at $24,134,000. Finally, Invst LLC acquired a new stake in Uber Technologies during the 1st quarter valued at $205,000. 80.24% of the stock is currently owned by hedge funds and other 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.