Uber Technologies (NYSE:UBER) PT Raised to $64.00
Posted by MarketBeat News on Nov 8th, 2023
Uber Technologies (NYSE:UBER – Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $59.00 to $64.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 29.53% from the stock’s previous close.
Several other analysts have also issued reports on UBER. Wolfe Research upped their price target on shares of Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Sanford C. Bernstein raised their price target on Uber Technologies from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Mizuho boosted their price objective on Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Loop Capital raised their target price on shares of Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Thirty research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $56.00.
Read Our Latest Research Report on UBER
Uber Technologies Trading Down 1.0 %
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Shares of UBER traded down $0.51 during mid-day trading on Wednesday, reaching $49.41. The company’s stock had a trading volume of 10,726,180 shares, compared to its average volume of 22,286,328. Uber Technologies has a 52 week low of $23.90 and a 52 week high of $50.27. The stock has a market cap of $100.97 billion, a PE ratio of -226.13 and a beta of 1.23. The company’s fifty day moving average price is $45.42 and its two-hundred day moving average price is $42.97. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98.
Insider Activity at Uber Technologies
In related news, CFO Nelson Chai sold 100,000 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $45.05, for a total transaction of $4,505,000.00. Following the sale, the chief financial officer now directly owns 291,807 shares of the company’s stock, valued at approximately $13,145,905.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.84% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Uber Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Uber Technologies by 6.7% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,509,335 shares of the ride-sharing company’s stock worth $69,414,000 after purchasing an additional 95,316 shares in the last quarter. Value Star Asset Management Hong Kong Ltd boosted its position in shares of Uber Technologies by 7.0% during the third quarter. Value Star Asset Management Hong Kong Ltd now owns 584,200 shares of the ride-sharing company’s stock valued at $26,867,000 after buying an additional 38,300 shares during the last quarter. Western Wealth Management LLC increased its holdings in Uber Technologies by 95.9% in the 3rd quarter. Western Wealth Management LLC now owns 13,690 shares of the ride-sharing company’s stock worth $630,000 after buying an additional 6,700 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Uber Technologies by 12.6% in the 3rd quarter. Avantax Advisory Services Inc. now owns 16,452 shares of the ride-sharing company’s stock worth $757,000 after buying an additional 1,845 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Uber Technologies by 37.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 211,694 shares of the ride-sharing company’s stock valued at $9,736,000 after acquiring an additional 57,301 shares during the period. 74.07% 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.
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