Cantor Fitzgerald Increases Uber Technologies (NYSE:UBER) Price Target to $80.00

Uber Technologies (NYSE:UBER) had its price target boosted by Cantor Fitzgerald from $75.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the ride-sharing company’s stock. Cantor Fitzgerald also issued estimates for Uber Technologies’ FY2024 earnings at $1.87 EPS and FY2025 earnings at $2.32 EPS.

A number of other analysts also recently issued reports on UBER. Jefferies Financial Group boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Monday. DA Davidson raised their price objective on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Finally, Wells Fargo & Company reduced their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.08.

Uber Technologies Stock Performance

UBER opened at $66.59 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The business has a fifty day simple moving average of $65.77 and a 200 day simple moving average of $70.17. 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 $140.21 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts expect that Uber Technologies will post 1.86 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UBER. Avion Wealth increased its holdings in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 223 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies during the 4th quarter valued at $33,000. Retirement Wealth Solutions LLC bought a new position in Uber Technologies during the fourth quarter worth $35,000. Finally, Financial Management Professionals Inc. grew its holdings in Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares during the period. 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.