Wolfe Research Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective raised by Wolfe Research from $90.00 to $92.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the ride-sharing company’s stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America boosted their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a report on Thursday. Finally, Tigress Financial lifted their price objective on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Price Performance

UBER stock opened at $64.59 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day moving average price of $67.98 and a 200-day moving average price of $70.69. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The firm has a market capitalization of $136.01 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts forecast that Uber Technologies will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

Hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its holdings in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. MCF Advisors LLC increased its position in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after buying an additional 252 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in Uber Technologies in the second quarter valued at about $36,000. Finally, Transcendent Capital Group LLC boosted its holdings in Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 550 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other 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.