Uber Technologies (NYSE:UBER) PT Raised to $88.00 at Piper Sandler

Uber Technologies (NYSE:UBER) had its price objective boosted by Piper Sandler from $86.00 to $88.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Piper Sandler’s target price indicates a potential upside of 24.24% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, May 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Wednesday, May 15th. UBS Group lowered their price target on Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Bank of America cut their price objective on Uber Technologies from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Roth Mkm reissued a “buy” rating and set a $89.00 target price (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.34.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $70.83 on Tuesday. The stock’s fifty day simple moving average is $67.85 and its 200 day simple moving average is $69.65. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $148.00 billion, a PE ratio of 114.24, a PEG ratio of 1.57 and a beta of 1.37. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. On average, research analysts predict that Uber Technologies will post 0.84 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the transaction, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,984 shares of company stock valued at $42,258,297. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Uber Technologies by 15.0% during the 3rd quarter. Acadian Asset Management LLC now owns 31,891 shares of the ride-sharing company’s stock worth $1,464,000 after purchasing an additional 4,168 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Uber Technologies by 62.2% in the third quarter. Dark Forest Capital Management LP now owns 7,846 shares of the ride-sharing company’s stock worth $361,000 after acquiring an additional 3,009 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Uber Technologies by 32.2% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 6,895 shares of the ride-sharing company’s stock worth $317,000 after acquiring an additional 1,681 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Uber Technologies by 31.8% in the third quarter. Natixis Advisors L.P. now owns 21,206 shares of the ride-sharing company’s stock valued at $975,000 after acquiring an additional 5,120 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Uber Technologies by 59.7% during the third quarter. Parkside Financial Bank & Trust now owns 1,480 shares of the ride-sharing company’s stock valued at $68,000 after acquiring an additional 553 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.