Uber Technologies (NYSE:UBER) Price Target Raised to $80.00

Uber Technologies (NYSE:UBER) had its price target boosted by Cantor Fitzgerald from $75.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock. Cantor Fitzgerald also issued estimates for Uber Technologies’ FY2024 earnings at $1.87 EPS and FY2025 earnings at $2.32 EPS.

Other analysts have also issued research reports about the stock. Wolfe Research lifted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Monday. Wells Fargo & Company cut their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Piper Sandler decreased their target price on Uber Technologies from $98.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Loop Capital increased their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Price Performance

Shares of UBER stock opened at $66.59 on Tuesday. The firm has a market cap of $140.21 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.77 and a beta of 1.36. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $65.77 and a 200 day moving average price of $70.17.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The company 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 company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Research analysts expect that Uber Technologies will post 1.86 EPS for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ascent Wealth Partners LLC acquired a new stake in shares of Uber Technologies in the third quarter valued at approximately $2,087,000. Teachers Retirement System of The State of Kentucky raised its stake in Uber Technologies by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after acquiring an additional 13,433 shares during the period. Aviso Wealth Management acquired a new stake in Uber Technologies during the 3rd quarter valued at $2,302,000. Polianta Ltd bought a new position in Uber Technologies during the fourth quarter worth $1,206,000. Finally, Brophy Wealth Management LLC acquired a new position in shares of Uber Technologies in the third quarter valued at $1,041,000. 80.24% of the stock is 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.