Uber Technologies (NYSE:UBER) Given New $94.00 Price Target at Truist Financial

Uber Technologies (NYSE:UBER) had its target price boosted by Truist Financial from $90.00 to $94.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the ride-sharing company’s stock.

A number of other equities analysts have also weighed in on the stock. JMP Securities boosted their price target on shares of Uber Technologies from $76.00 to $85.00 and gave the stock a market outperform rating in a research report on Friday, February 16th. Oppenheimer increased their price target on Uber Technologies from $65.00 to $75.00 and gave the company an outperform rating in a report on Monday, December 4th. JPMorgan Chase & Co. boosted their price objective on Uber Technologies from $84.00 to $95.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Royal Bank of Canada reaffirmed an outperform rating and issued a $85.00 target price on shares of Uber Technologies in a research note on Thursday, February 15th. Finally, Gordon Haskett cut shares of Uber Technologies from a buy rating to a hold rating and set a $66.00 price target on the stock. in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of Moderate Buy and a consensus price target of $75.41.

Uber Technologies Price Performance

NYSE:UBER opened at $78.11 on Wednesday. The firm has a market cap of $162.20 billion, a P/E ratio of 90.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.37. The stock has a 50 day moving average of $74.26 and a two-hundred day moving average of $60.24. Uber Technologies has a 12 month low of $29.22 and a 12 month high of $82.14. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.16 by $0.50. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.76 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. On average, analysts expect that Uber Technologies will post 1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 20,000 shares of Uber Technologies stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total value of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares in the company, valued at approximately $8,350,380.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the sale, the insider now directly owns 107,290 shares in the company, valued at approximately $8,350,380.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the transaction, the insider now owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after purchasing an additional 43,275,830 shares during the last quarter. Capital World Investors boosted its holdings in shares of Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after buying an additional 283,802 shares in the last quarter. Capital Research Global Investors grew its position in shares of Uber Technologies by 28.4% in the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after buying an additional 8,164,816 shares during the last quarter. Altimeter Capital Management LP raised its stake in Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after acquiring an additional 19,260,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Uber Technologies by 147.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,429,473 shares of the ride-sharing company’s stock valued at $1,627,264,000 after acquiring an additional 15,766,355 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.