Barclays Increases Uber Technologies (NYSE:UBER) Price Target to $60.00
Posted by Defense World Staff on Aug 4th, 2023
Uber Technologies (NYSE:UBER – Get Free Report) had its price target lifted by research analysts at Barclays from $57.00 to $60.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Barclays‘s target price would suggest a potential upside of 30.75% from the company’s current price.
Other research analysts have also recently issued reports about the company. Bank of America increased their price target on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Piper Jaffray Companies raised their target price on Uber Technologies from $41.00 to $43.00 in a research report on Wednesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Uber Technologies in a research report on Tuesday. Loop Capital lifted their price objective on Uber Technologies from $42.00 to $48.00 in a research report on Friday, June 9th. Finally, Susquehanna raised Uber Technologies from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $40.00 to $48.00 in a research report on Wednesday, May 3rd. Thirty equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $55.03.
Read Our Latest Stock Report on Uber Technologies
Uber Technologies Trading Down 2.3 %
Shares of UBER stock opened at $45.89 on Wednesday. The stock’s fifty day moving average price is $43.44 and its two-hundred day moving average price is $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 quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.12.
Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.34 billion. During the same period in the prior year, the company earned ($1.33) EPS. Uber Technologies’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Uber Technologies will post 0.1 earnings per share for the current year.
Insider Buying and Selling at Uber Technologies
In other Uber Technologies news, insider Tony West sold 12,501 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $37.85, for a total transaction of $473,162.85. Following the completion of the sale, the insider now directly owns 181,750 shares in the company, valued at $6,879,237.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jill Hazelbaker sold 644 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total transaction of $26,404.00. Following the completion of the transaction, the insider now directly owns 128,916 shares of the company’s stock, valued at $5,285,556. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 12,501 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $37.85, for a total transaction of $473,162.85. Following the completion of the transaction, the insider now directly owns 181,750 shares of the company’s stock, valued at $6,879,237.50. The disclosure for this sale can be found here. Insiders sold a total of 238,143 shares of company stock worth $10,798,399 over the last three months. Company insiders own 3.84% of the company’s stock.
Institutional Trading of Uber Technologies
Several institutional investors and hedge funds have recently bought and sold shares of UBER. American Century Companies Inc. lifted its holdings in Uber Technologies by 28.7% in the first quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock worth $822,000 after buying an additional 5,142 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $3,359,000. Panagora Asset Management Inc. lifted its holdings in shares of Uber Technologies by 29.3% during the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock valued at $808,000 after purchasing an additional 5,134 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Uber Technologies by 11.7% during the first quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock valued at $938,000 after purchasing an additional 2,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Uber Technologies by 17.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $40,838,000 after purchasing an additional 168,475 shares during the last quarter. 73.90% of the stock is currently owned by hedge funds and other institutional investors.
Uber Technologies Company Profile
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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