JPMorgan Chase & Co. Cuts Uber Technologies (NYSE:UBER) Price Target to $80.00

Uber Technologies (NYSE:UBER) had its target price decreased by analysts at JPMorgan Chase & Co. from $90.00 to $80.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the ride-sharing company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.96% from the company’s previous close.

A number of other equities research analysts have also issued reports on UBER. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Truist Financial upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Evercore ISI reduced their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Uber Technologies Stock Up 3.3 %

Shares of UBER traded up $2.18 during mid-day trading on Tuesday, hitting $67.82. The company’s stock had a trading volume of 9,257,834 shares, compared to its average volume of 20,183,687. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $141.87 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.89 and a beta of 1.37. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The company’s 50-day moving average is $73.68 and its 200-day moving average is $71.67.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, equities research analysts forecast that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the transaction, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock worth $5,793,869 over the last ninety days. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Avion Wealth boosted its holdings in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares during the period. Transce3nd LLC bought a new position in Uber Technologies in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $28,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 223 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.