Uber Technologies (NYSE:UBER) PT Raised to $55.00

Posted by Defense World Staff on Aug 4th, 2023

Uber Technologies (NYSE:UBER – Get Free Report) had its target price upped by research analysts at Sanford C. Bernstein from $50.00 to $55.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 19.85% from the company’s current price.

A number of other equities analysts have also recently issued reports on UBER. Oppenheimer raised their price objective on shares of Uber Technologies from $55.00 to $65.00 in a research note on Wednesday, June 21st. Mizuho upped their price objective on Uber Technologies from $50.00 to $55.00 in a report on Wednesday, May 3rd. Loop Capital raised their target price on Uber Technologies from $42.00 to $48.00 in a report on Friday, June 9th. Barclays upped their price target on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wolfe Research upped their target price on shares of Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday. Thirty investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $55.03.

Get Our Latest Analysis on Uber Technologies

Uber Technologies Trading Down 2.3 %

UBER stock opened at $45.89 on Wednesday. The company has a 50 day moving average price of $43.44 and a 200 day moving average price of $36.80. Uber Technologies has a fifty-two week low of $22.94 and a fifty-two week high of $49.49. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.06.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.19. Uber Technologies had a negative return on equity of 4.82% and a negative net margin of 1.07%. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.34 billion. During the same quarter last year, the business earned ($1.33) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 644 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.00, for a total value of $26,404.00. Following the transaction, the insider now owns 128,916 shares in the company, valued at $5,285,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Uber Technologies news, CEO Dara Khosrowshahi sold 30,025 shares of Uber Technologies stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $45.00, for a total value of $1,351,125.00. Following the transaction, the chief executive officer now owns 1,485,167 shares in the company, valued at $66,832,515. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 644 shares of Uber Technologies stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total value of $26,404.00. Following the completion of the transaction, the insider now owns 128,916 shares in the company, valued at approximately $5,285,556. The disclosure for this sale can be found here. Insiders have sold 238,143 shares of company stock worth $10,798,399 in the last 90 days. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently made changes to their positions in UBER. Pinnacle Bancorp Inc. acquired a new stake in shares of Uber Technologies during the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of Uber Technologies by 89.3% during the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Uber Technologies by 66.5% during the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after purchasing an additional 260 shares in the last quarter. Sonnipe Ltd acquired a new stake in shares of Uber Technologies during the fourth quarter valued at about $30,000. Finally, SOA Wealth Advisors LLC. boosted its stake in shares of Uber Technologies by 133.8% during the second quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. 73.90% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Company Profile

(Get Free Report)

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.

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