TD Cowen Increases Uber Technologies (NYSE:UBER) Price Target to $90.00

Uber Technologies (NYSE:UBER) had its price objective hoisted by TD Cowen from $88.00 to $90.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the ride-sharing company’s stock.

Other analysts also recently issued reports about the company. Roth Mkm restated a buy rating and set a $89.00 target price (down from $91.00) on shares of Uber Technologies in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price target on shares of Uber Technologies in a research report on Monday, July 15th. Citigroup increased their price target on shares of Uber Technologies from $93.00 to $96.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Melius Research assumed coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a hold rating and a $77.00 target price on the stock. Finally, UBS Group cut their target price on shares of Uber Technologies from $100.00 to $95.00 and set a buy rating on the stock in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $85.97.

Uber Technologies Trading Down 2.0 %

UBER stock opened at $64.40 on Tuesday. Uber Technologies has a 52 week low of $40.09 and a 52 week high of $82.14. The company has a market cap of $134.57 billion, a price-to-earnings ratio of 103.87, a PEG ratio of 1.44 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $68.58 and a 200-day simple moving average of $70.92.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Uber Technologies will post 0.85 EPS for the current year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tony West sold 18,750 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now owns 206,338 shares in the company, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold 1,135,984 shares of company stock valued at $78,213,297 over the last three months. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. grew its position in shares of Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Uber Technologies during the 1st quarter worth about $32,000. Founders Capital Management bought a new stake in shares of Uber Technologies during the 2nd quarter worth about $33,000. YHB Investment Advisors Inc. acquired a new stake in Uber Technologies in the 1st quarter worth about $37,000. Finally, CVA Family Office LLC acquired a new stake in Uber Technologies in the 4th quarter worth about $30,000. 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.