Uber Technologies, Inc. (NYSE:UBER) Receives $87.60 Average Price Target from Analysts

Shares of Uber Technologies, Inc. (NYSE:UBER) have received a consensus recommendation of “Moderate Buy” from the thirty-six analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, thirty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $87.67.

A number of research analysts recently issued reports on the stock. DA Davidson boosted their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup increased their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Sandler lifted their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Melius began coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 target price on the stock. Finally, Bank of America reaffirmed a “buy” rating and issued a $88.00 price target on shares of Uber Technologies in a research note on Friday, August 23rd.

Insiders Place Their Bets

In other news, 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 value of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Uber Technologies by 2.2% in the 1st 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 during the period. Capital World Investors grew its stake in shares of Uber Technologies by 0.7% in the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares during the last quarter. Capital Research Global Investors increased its holdings in Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in Uber Technologies by 74.1% during the 1st 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 during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

UBER opened at $77.13 on Monday. The company has a fifty day moving average price of $69.88 and a two-hundred day moving average price of $70.66. The firm has a market capitalization of $162.05 billion, a PE ratio of 124.40, a P/E/G ratio of 1.33 and a beta of 1.33. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $82.14. 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 (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts anticipate that Uber Technologies will post 1.06 earnings per share for the current year.

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.