Uber Technologies (NYSE:UBER) Given New $91.00 Price Target at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective upped by Wells Fargo & Company from $89.00 to $91.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the ride-sharing company’s stock.

Several other brokerages have also recently weighed in on UBER. Piper Sandler boosted their target price on Uber Technologies from $86.00 to $88.00 and gave the stock an overweight rating in a report on Tuesday. Loop Capital dropped their target price on Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a report on Thursday, May 16th. UBS Group lowered their price target on shares of Uber Technologies from $100.00 to $95.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Truist Financial upped their price objective on shares of Uber Technologies from $90.00 to $94.00 and gave the company a buy rating in a report on Wednesday, March 27th. Finally, Moffett Nathanson reaffirmed a buy rating and set a $92.00 target price on shares of Uber Technologies in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat.com, Uber Technologies currently has an average rating of Moderate Buy and a consensus price target of $84.41.

Uber Technologies Trading Up 3.3 %

UBER stock opened at $72.64 on Friday. The business’s 50-day moving average is $67.90 and its 200 day moving average is $69.73. Uber Technologies has a 12-month low of $40.09 and a 12-month high of $82.14. The stock has a market cap of $151.78 billion, a price-to-earnings ratio of 117.16, a PEG ratio of 1.54 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Uber Technologies will post 0.85 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on 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 owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tony West sold 89,234 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the sale, the insider now directly owns 124,945 shares in the company, valued at approximately $8,518,750.10. The disclosure for this sale can be found here. In the last three months, insiders sold 635,984 shares of company stock valued at $42,258,297. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 202 shares during the period. CVA Family Office LLC purchased a new position in shares of Uber Technologies during the fourth quarter worth approximately $30,000. Highlander Capital Management LLC increased its holdings in shares of Uber Technologies by 100.0% in the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 250 shares during the period. Bfsg LLC purchased a new stake in Uber Technologies in the 4th quarter valued at $31,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in Uber Technologies by 49.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds 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.