Uber Technologies (NYSE:UBER) Price Target Increased to $60.00 by Analysts at Wedbush

Uber Technologies (NYSE:UBER) had its price objective increased by Wedbush from $49.00 to $60.00 in a report issued on Thursday, The Fly reports. The firm currently has an outperform rating on the ride-sharing company’s stock.

A number of other analysts have also weighed in on the stock. Morgan Stanley increased their price objective on shares of Uber Technologies from $45.00 to $49.00 and gave the stock an overweight rating in a research note on Friday, November 6th. Stifel Nicolaus increased their price objective on shares of Uber Technologies from $38.00 to $40.00 and gave the stock a buy rating in a research note on Friday, August 7th. Citigroup cut their price objective on shares of Uber Technologies from $41.00 to $40.00 and set a buy rating on the stock in a research note on Wednesday, August 26th. Barclays increased their price objective on shares of Uber Technologies from $43.00 to $50.00 and gave the stock an overweight rating in a research note on Monday, November 9th. Finally, The Goldman Sachs Group raised their price target on shares of Uber Technologies from $42.00 to $52.00 and gave the company a buy rating in a research report on Friday, November 6th. Four research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. Uber Technologies currently has a consensus rating of Buy and a consensus target price of $45.79.

Shares of Uber Technologies stock opened at $48.43 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. Uber Technologies has a 12-month low of $13.71 and a 12-month high of $50.75. The firm has a market capitalization of $85.42 billion, a price-to-earnings ratio of -11.99 and a beta of 1.04. The firm’s 50 day simple moving average is $39.15 and its two-hundred day simple moving average is $34.58.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, November 5th. The ride-sharing company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.02). Uber Technologies had a negative net margin of 50.99% and a negative return on equity of 38.83%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the company posted ($0.68) EPS. The company’s revenue for the quarter was down 20.0% compared to the same quarter last year. On average, sell-side analysts predict that Uber Technologies will post -3.82 EPS for the current fiscal year.

In other news, insider Tony West sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $33.91, for a total value of $67,820.00. Following the transaction, the insider now directly owns 269,405 shares of the company’s stock, valued at $9,135,523.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 6,000 shares of company stock worth $207,240. Insiders own 8.66% of the company’s stock.

Hedge funds have recently modified their holdings of the business. AXA S.A. purchased a new position in Uber Technologies during the third quarter worth about $25,000. CX Institutional purchased a new position in Uber Technologies during the third quarter worth about $27,000. Truvestments Capital LLC raised its stake in Uber Technologies by 221.6% during the third quarter. Truvestments Capital LLC now owns 804 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 554 shares during the period. Keebeck Wealth Management LLC purchased a new position in Uber Technologies during the second quarter worth about $31,000. Finally, Front Row Advisors LLC raised its stake in Uber Technologies by 100.0% during the second quarter. Front Row Advisors LLC now owns 1,000 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 500 shares during the period. 67.75% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications primarily in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services, as well as connect consumers with restaurants and food delivery service providers for meal preparation and delivery services.

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