Uber Technologies (NYSE:UBER) Price Target Raised to $100.00 at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective raised by stock analysts at Wells Fargo & Company from $90.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 21.07% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research note on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and issued a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Finally, KeyCorp lowered their price target on Uber Technologies from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Stock Up 0.4 %

Shares of Uber Technologies stock opened at $82.60 on Thursday. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The company has a market capitalization of $172.78 billion, a PE ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business has a 50-day moving average of $74.72 and a 200-day moving average of $71.59.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Uber Technologies’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) EPS. As a group, equities analysts forecast that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tony West sold 23,404 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UBER. Principal Financial Group Inc. boosted its stake in Uber Technologies by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,460,332 shares of the ride-sharing company’s stock worth $184,919,000 after purchasing an additional 162,528 shares during the period. Diversified Trust Co boosted its position in shares of Uber Technologies by 3.7% in the fourth quarter. Diversified Trust Co now owns 15,667 shares of the ride-sharing company’s stock worth $945,000 after buying an additional 557 shares during the period. Fulton Bank N.A. grew its holdings in shares of Uber Technologies by 86.5% during the fourth quarter. Fulton Bank N.A. now owns 22,337 shares of the ride-sharing company’s stock valued at $1,347,000 after buying an additional 10,357 shares in the last quarter. Watts Gwilliam & Co. LLC raised its position in Uber Technologies by 537.1% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 72,943 shares of the ride-sharing company’s stock valued at $4,825,000 after buying an additional 61,494 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in Uber Technologies by 32.1% in the 4th quarter. Fortitude Family Office LLC now owns 795 shares of the ride-sharing company’s stock worth $48,000 after acquiring an additional 193 shares in 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.