Uber Technologies (NYSE:UBER) had its price target raised to $97.00 by analysts at Wells Fargo & Company

VaselineAugust 11, 2024

0 4 minutes read

Uber Technologies (NYSE:UBER – Free Report) Its price objective was upped by Wells Fargo & Company from $91.00 to $97.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the ride-hailing company’s stock.

Several other analysts have also weighed in on the stock. Piper Sandler raised their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the company an overweight rating in a research note on Tuesday, June 25th. Moffett Nathanson reiterated a buy rating and set a $92.00 price objective on shares of Uber Technologies in a report on Thursday, April 11th. Melius assumed coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a hold rating and a $77.00 price target for the company. Roth Mkm reiterated a buy rating and issued a $89.00 target price (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Finally, BMO Capital Markets reissued an outperform rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of Moderate Buy and a consensus price target of $87.47.

Get the latest stock analysis on Uber Technologies

Uber Technologies Stock Performance

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Shares of Uber Technologies stock opened at $68.54 on Wednesday. The company has a 50 day moving average price of $68.47 and a two hundred day moving average price of $71.00. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $82.14. The company has a current ratio of 1.21, a quick ratio of 1.21, and a debt-to-equity ratio of 0.72. The company has a market cap of $143.22 billion, a P/E ratio of 110.55, a PEG ratio of 1.45 and a beta of 1.36.

Uber Technologies (NYSE:UBER – Get Your Free Report ) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. In the same quarter last year, the company earned $0.18 EPS. As a group, analysts anticipate that Uber Technologies will post 0.84 EPS for the current year.

Insider Trading at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, insider Tony West sold 89,234 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the transaction, the insider now owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of shares are currently held by corporate insiders.

Hedge funds influence Uber technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. raised its position in shares of Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 245 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Uber Technologies by 111.6% in the first quarter. Financial Management Professionals Inc. now owns 383 shares of the transit company’s stock valued at $29,000 after acquiring an additional 202 shares during the last quarter. WR Wealth Planners LLC grew its position in Uber Technologies by 563.9% in the second quarter. WR Wealth Planners LLC now owns 405 shares of the transit company’s stock valued at $29,000 after purchasing an additional 344 shares during the last quarter. Bfsg LLC bought a new stake in Uber Technologies in the fourth quarter valued at about $31,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Uber Technologies in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 80.24% of the company’s shares.

About Uber Technologies

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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 wide range of transportation modes, such as ridesharing, carsharing, micromobility, rentals, public transportation, taxis, and other modes; and offers travelers in a variety of vehicle types, as well as financial partnership products and advertising services.