Cantor Fitzgerald Increases Uber Technologies (NYSE:UBER) Price Target to $80.00

Uber Technologies (NYSE:UBER) had its price objective lifted by research analysts at Cantor Fitzgerald from $75.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 16.54% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Tigress Financial boosted their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada boosted their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Monday. Finally, Bank of America increased their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.08.

Uber Technologies Price Performance

UBER traded down $0.12 on Tuesday, reaching $68.65. The company had a trading volume of 2,751,544 shares, compared to its average volume of 23,457,307. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The business has a 50 day simple moving average of $65.86 and a 200 day simple moving average of $70.26. The company has a market cap of $144.55 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Uber Technologies will post 1.86 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Jennison Associates LLC boosted its stake in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Janus Henderson Group PLC grew its holdings in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the period. 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.