TD Cowen Boosts Uber Technologies (NYSE:UBER) Price Target to $90.00

Uber Technologies (NYSE:UBER) had its target price upped by TD Cowen from $88.00 to $90.00 in a research report released on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the ride-sharing company’s stock.

Several other analysts also recently commented on the stock. Loop Capital lowered their target price on shares of Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a report on Thursday, May 16th. Citigroup increased their target price on shares of Uber Technologies from $93.00 to $96.00 and gave the company a buy rating in a report on Wednesday, June 12th. Moffett Nathanson reiterated a buy rating and issued a $92.00 target price on shares of Uber Technologies in a report on Thursday, April 11th. Truist Financial increased 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. Finally, Bank of America lowered their target price on shares of Uber Technologies from $91.00 to $87.00 and set a buy rating for the company in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $85.97.

Uber Technologies Stock Down 0.6 %

Uber Technologies stock opened at $65.74 on Tuesday. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14. The firm has a market capitalization of $137.37 billion, a price-to-earnings ratio of 106.03, a price-to-earnings-growth ratio of 1.44 and a beta of 1.36. The firm’s fifty day moving average price is $68.60 and its two-hundred day moving average price is $70.89. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

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

Insider Activity

In other news, insider Tony West sold 18,750 shares of the firm’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 directly owns 206,338 shares in the company, valued at $13,541,962.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Uber Technologies news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares in the company, valued at $13,541,962.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in UBER. Financial Management Professionals Inc. lifted its holdings in shares of Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Uber Technologies in the 4th quarter worth approximately $30,000. Highlander Capital Management LLC lifted its holdings in shares of Uber Technologies by 100.0% in the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 250 shares during the last quarter. Bfsg LLC purchased a new position in shares of Uber Technologies in the fourth quarter worth $31,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Uber Technologies by 49.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock worth $32,000 after buying an additional 174 shares during the period. 80.24% of the stock is currently owned by 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.