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

Uber Technologies (NYSE:UBER) had its price objective hoisted by Loop Capital from $84.00 to $86.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

UBER has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Morgan Stanley increased their price objective 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. Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Citigroup upped their target price on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI boosted their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Stock Performance

NYSE:UBER traded up $0.02 during midday trading on Wednesday, reaching $74.38. The stock had a trading volume of 4,312,988 shares, compared to its average volume of 18,042,330. The stock has a market cap of $156.62 billion, a P/E ratio of 36.98, a P/E/G ratio of 1.16 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 has a 12-month low of $48.90 and a 12-month high of $87.00. The firm has a fifty day simple moving average of $75.45 and a two-hundred day simple moving average of $70.92.

Uber Technologies (NYSE:UBER) last issued its quarterly 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. The business had revenue of $11.19 billion for 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%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities analysts expect that Uber Technologies will post 1.15 EPS for the current year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UBER. Price T Rowe Associates Inc. MD grew its stake in Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. GQG Partners LLC grew its position in shares of 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 worth $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Allen Investment Management LLC increased its stake in shares of Uber Technologies by 2,956.5% in the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock worth $410,995,000 after buying an additional 5,163,635 shares during the last quarter. Vanguard Group Inc. raised its holdings in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after acquiring an additional 3,623,951 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after acquiring an additional 3,179,308 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.