Royal Bank of Canada Raises Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its target price increased by Royal Bank of Canada from $80.00 to $82.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 11.66% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. KeyCorp decreased their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group lifted their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Thursday, October 17th. JMP Securities upped their price objective on Uber Technologies from $80.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Melius Research started coverage on Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target on the stock. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.41.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $1.39 during midday trading on Friday, hitting $73.44. 24,936,059 shares of the stock traded hands, compared to its average volume of 18,062,432. The firm has a market capitalization of $154.29 billion, a P/E ratio of 80.36, a PEG ratio of 1.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies has a one year low of $45.25 and a one year high of $87.00. The firm has a 50-day moving average of $75.38 and a two-hundred day moving average of $70.88.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts forecast that Uber Technologies will post 1.1 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies 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 sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Aptus Capital Advisors LLC increased its stake in shares of Uber Technologies by 17.1% during the second quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock worth $688,000 after buying an additional 1,383 shares during the period. Lederer & Associates Investment Counsel CA acquired a new stake in shares of Uber Technologies in the 3rd quarter valued at $799,000. Samlyn Capital LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter worth $134,987,000. Hedeker Wealth LLC acquired a new position in shares of Uber Technologies during the third quarter worth $6,519,000. Finally, Brookstone Capital Management raised its stake in Uber Technologies by 19.0% in the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock valued at $11,082,000 after buying an additional 25,814 shares in the last quarter. 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.