Truist Financial Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its target price increased by research analysts at Truist Financial from $90.00 to $92.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. Truist Financial’s price target suggests a potential upside of 20.46% from the company’s current price.

Other equities analysts also recently issued research reports about the company. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Arete Research raised Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Uber Technologies Stock Performance

UBER stock opened at $76.38 on Thursday. The company has a market capitalization of $159.55 billion, a P/E ratio of 16.75, a PEG ratio of 0.89 and a beta of 1.39. The company has a 50-day simple moving average of $70.92 and a 200 day simple moving average of $71.64. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Sell-side analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently bought and sold shares of UBER. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Avion Wealth raised its position in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares during the last quarter. Transce3nd LLC bought a new position in shares of Uber Technologies during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new stake in Uber Technologies in the fourth quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. increased its holdings in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.