Uber Technologies (NYSE:UBER) Price Target Raised to $108.00

Uber Technologies (NYSE:UBER) had its price target upped by DA Davidson from $102.00 to $108.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. DA Davidson currently has a buy rating on the ride-sharing company’s stock.

Several other research firms have also recently weighed in on UBER. Guggenheim raised Uber Technologies to a “strong-buy” rating in a research note on Wednesday, October 15th. Susquehanna reissued a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Wells Fargo & Company lowered their price objective on shares of Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Uber Technologies in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.26.

Uber Technologies Stock Down 0.1%

Shares of UBER stock opened at $92.03 on Wednesday. The company’s fifty day simple moving average is $95.46 and its two-hundred day simple moving average is $91.09. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $101.99. The stock has a market cap of $191.21 billion, a P/E ratio of 11.83 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. Analysts predict that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 in the last three months. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UBER. Compass Wealth Management LLC bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $3,185,000. Wealth Alliance LLC raised its holdings in shares of Uber Technologies by 5.2% in the third quarter. Wealth Alliance LLC now owns 15,284 shares of the ride-sharing company’s stock worth $1,497,000 after buying an additional 750 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Uber Technologies by 86.4% during the third quarter. Fiera Capital Corp now owns 297,951 shares of the ride-sharing company’s stock valued at $29,190,000 after buying an additional 138,081 shares during the last quarter. Hemenway Trust Co LLC raised its stake in shares of Uber Technologies by 27.8% in the third quarter. Hemenway Trust Co LLC now owns 137,918 shares of the ride-sharing company’s stock worth $13,512,000 after purchasing an additional 30,032 shares during the last quarter. Finally, Cumberland Partners Ltd increased its holdings in Uber Technologies by 3.4% in the 3rd quarter. Cumberland Partners Ltd now owns 60,000 shares of the ride-sharing company’s stock worth $5,878,000 after buying an additional 2,000 shares during the period. Institutional investors own 80.24% of the company’s stock.

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.