TD Cowen Issues Pessimistic Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective decreased by analysts at TD Cowen from $90.00 to $88.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. TD Cowen’s target price would suggest a potential upside of 20.86% from the company’s current price.

Other analysts have also recently issued research reports about the stock. UBS Group reiterated a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. KGI Securities restated a “neutral” rating and issued a $78.00 target price on shares of Uber Technologies in a report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on shares of Uber Technologies from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Truist Financial boosted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.03.

Uber Technologies Stock Up 11.9 %

UBER opened at $72.81 on Tuesday. The stock has a market cap of $152.30 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The firm’s fifty day moving average is $73.82 and its 200 day moving average is $71.55.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,154 shares of company stock valued at $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently bought and sold shares of the company. Capital Asset Advisory Services LLC increased its position in shares of Uber Technologies by 12.0% during the first quarter. Capital Asset Advisory Services LLC now owns 4,997 shares of the ride-sharing company’s stock valued at $372,000 after acquiring an additional 534 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Uber Technologies by 12.5% during the first quarter. Fulton Bank N.A. now owns 25,121 shares of the ride-sharing company’s stock valued at $1,830,000 after acquiring an additional 2,784 shares during the last quarter. HBW Advisory Services LLC acquired a new stake in shares of Uber Technologies during the first quarter valued at about $334,000. ST Germain D J Co. Inc. increased its position in shares of Uber Technologies by 2.4% during the first quarter. ST Germain D J Co. Inc. now owns 310,107 shares of the ride-sharing company’s stock valued at $22,594,000 after acquiring an additional 7,246 shares during the last quarter. Finally, Merit Financial Group LLC increased its position in shares of Uber Technologies by 12.7% during the first quarter. Merit Financial Group LLC now owns 64,417 shares of the ride-sharing company’s stock valued at $4,693,000 after acquiring an additional 7,279 shares during the last quarter. 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.