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

Uber Technologies (NYSE:UBER) had its price target hoisted by Wells Fargo & Company from $89.00 to $91.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 25.21% from the stock’s previous close.

UBER has been the subject of several other reports. Piper Sandler lifted their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Argus lifted their price target on shares of Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Bank of America reduced their price objective on shares of Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Tigress Financial boosted their target price on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, UBS Group reduced their price target on Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.41.

Uber Technologies Stock Performance

Uber Technologies stock opened at $72.68 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies has a twelve month low of $40.09 and a twelve month high of $82.14. The company’s 50-day moving average price is $67.90 and its 200-day moving average price is $69.78. The company has a market cap of $151.87 billion, a PE ratio of 117.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.37.

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

Insiders Place Their Bets

In related news, insider Tony West sold 18,750 shares of the 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 owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Tony West sold 18,750 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, 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. Over the last ninety days, insiders sold 635,984 shares of company stock worth $42,258,297. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UBER. Financial Management Professionals Inc. lifted its holdings in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 202 shares during the period. CVA Family Office LLC purchased a new position in Uber Technologies during the 4th quarter worth approximately $30,000. Highlander Capital Management LLC lifted its stake in Uber Technologies by 100.0% during the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 250 shares during the period. Bfsg LLC acquired a new stake 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 acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.