Uber Technologies (NYSE:UBER) Given New $110.00 Price Target at Truist Financial

Uber Technologies (NYSE:UBER) had its price objective increased by Truist Financial from $96.00 to $110.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. Truist Financial’s price objective would indicate a potential upside of 17.95% from the company’s previous close.

Several other research analysts have also commented on the stock. Cowen restated a “buy” rating on shares of Uber Technologies in a report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Wednesday. Raymond James Financial boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Piper Sandler set a $107.00 price objective on shares of Uber Technologies in a report on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $107.29.

Uber Technologies Trading Down 1.5%

Shares of Uber Technologies stock traded down $1.41 during mid-day trading on Wednesday, hitting $93.26. 7,791,069 shares of the stock were exchanged, compared to its average volume of 20,694,947. Uber Technologies has a twelve month low of $59.33 and a twelve month high of $101.99. The stock has a market capitalization of $194.49 billion, a price-to-earnings ratio of 15.87 and a beta of 1.46. The company has a 50-day simple moving average of $95.62 and a 200 day simple moving average of $90.93. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same period last year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts forecast that Uber Technologies will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 604,946 shares of company stock valued at $58,950,116 in the last ninety days. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently modified their holdings of UBER. Westend Capital Management LLC bought a new position in shares of Uber Technologies during the third quarter valued at $27,000. Kilter Group LLC bought a new position in shares of Uber Technologies in the second quarter valued at about $26,000. West Oak Capital LLC bought a new position in shares of Uber Technologies in the second quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the 2nd quarter worth about $30,000. Finally, Total Investment Management Inc. bought a new stake in Uber Technologies during the 2nd quarter worth about $32,000. 80.24% of the stock is owned by 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.