Uber Technologies (NYSE:UBER) Rating Reiterated by Wells Fargo & Company

Uber Technologies (NYSE:UBER)‘s stock had its “overweight” rating reiterated by research analysts at Wells Fargo & Company in a research note issued to investors on Friday, Benzinga reports. They currently have a $97.00 target price on the ride-sharing company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 33.83% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. 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 research note on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Tuesday, July 30th. Finally, Piper Sandler raised their target price on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Stock Up 6.4 %

Shares of NYSE UBER opened at $72.48 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market cap of $152.28 billion, a P/E ratio of 116.90, a PEG ratio of 1.21 and a beta of 1.33. The business’s fifty day simple moving average is $69.41 and its 200-day simple moving average is $70.94. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities analysts predict that Uber Technologies will post 1.06 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UBER. GHP Investment Advisors Inc. grew its position in shares of Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 245 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares in the last quarter. WR Wealth Planners LLC increased its holdings in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of Uber Technologies during the first quarter valued at $32,000. Finally, MCF Advisors LLC boosted its position in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Hedge funds and other 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.