Wolfe Research Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its target price increased by investment analysts at Wolfe Research from $90.00 to $92.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. Wolfe Research’s target price suggests a potential upside of 42.44% from the company’s previous close.

A number of other research analysts also recently commented on UBER. Wells Fargo & Company lowered their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Raymond James assumed coverage on Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Finally, JMP Securities downgraded Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Thursday. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Trading Up 2.2 %

Uber Technologies stock opened at $64.59 on Friday. The company has a 50 day moving average price of $67.98 and a 200 day moving average price of $70.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The firm has a market capitalization of $136.01 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts forecast that Uber Technologies will post 1.89 EPS for the current year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its stake in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 245 shares during the period. MCF Advisors LLC lifted its position in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. Fairfield Financial Advisors LTD bought a new position in Uber Technologies during the second quarter worth $36,000. Financial Management Professionals Inc. grew its holdings in Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Finally, Transcendent Capital Group LLC increased its stake in Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 550 shares in the last quarter. Institutional investors 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.