Truist Financial Issues Pessimistic Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its target price trimmed by Truist Financial from $99.00 to $95.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Friday, October 25th. Raymond James initiated coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price for the company. Citigroup raised their target price on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.22.

Uber Technologies Price Performance

UBER opened at $73.25 on Friday. The company’s 50 day simple moving average is $75.37 and its 200-day simple moving average is $70.86. Uber Technologies has a one year low of $46.68 and a one year high of $87.00. The stock has a market capitalization of $153.89 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping 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 business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Sell-side analysts anticipate that Uber Technologies will post 1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UBER. GHP Investment Advisors Inc. increased its position in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC increased its position in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares during the period. J.Safra Asset Management Corp purchased a new position in Uber Technologies during the 1st quarter valued at $32,000. MCF Advisors LLC increased its position in 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 purchasing an additional 405 shares during the period. Finally, Founders Capital Management purchased a new position in Uber Technologies during the 2nd quarter valued at $33,000. 80.24% of the stock is owned by hedge funds and other 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.