Bank of America Boosts Uber Technologies (NYSE:UBER) Price Target to $96.00

Uber Technologies (NYSE:UBER) had its price target increased by equities researchers at Bank of America from $88.00 to $96.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Bank of America‘s price target would indicate a potential upside of 20.32% from the company’s previous close.

Several other brokerages have also recently issued reports on UBER. UBS Group boosted their price target on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, August 7th. Melius Research started coverage on Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target for the company. TD Cowen lifted their price objective on shares of Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.86.

Uber Technologies Stock Performance

UBER traded down $0.62 during trading on Wednesday, hitting $79.79. 4,478,717 shares of the stock were exchanged, compared to its average volume of 17,910,580. The firm has a market capitalization of $166.72 billion, a P/E ratio of 129.11, a PEG ratio of 1.37 and a beta of 1.33. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $87.00. The stock has a fifty day moving average price of $74.71 and a two-hundred day moving average price of $70.69. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Uber Technologies’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Uber Technologies will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the business. CENTRAL TRUST Co grew its stake in shares of Uber Technologies by 12.3% during the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after buying an additional 127 shares during the period. Procyon Advisors LLC increased its stake in Uber Technologies by 2.1% during the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after acquiring an additional 131 shares during the last quarter. DT Investment Partners LLC increased its stake in Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock worth $62,000 after acquiring an additional 145 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in shares of Uber Technologies by 0.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock valued at $1,809,000 after purchasing an additional 151 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after purchasing an additional 157 shares in the last quarter. 80.24% of the stock is currently 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.