Royal Bank of Canada Increases Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its target price raised by equities research analysts at Royal Bank of Canada from $80.00 to $82.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the ride-sharing company’s stock. Royal Bank of Canada’s price target points to a potential upside of 11.66% from the company’s current price.

Several other analysts also recently weighed in on the company. Roth Mkm upped their price objective on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. KeyCorp lowered their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Uber Technologies in a research report on Thursday, October 17th. Citigroup upped their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded up $1.39 on Friday, reaching $73.44. 24,936,059 shares of the company’s stock were exchanged, compared to its average volume of 18,062,432. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies has a twelve month low of $45.25 and a twelve month high of $87.00. The company has a fifty day moving average of $75.38 and a 200-day moving average of $70.88. The company has a market capitalization of $154.29 billion, a price-to-earnings ratio of 80.36, a PEG ratio of 1.36 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, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts predict that Uber Technologies will post 1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares during the period. Capital Research Global Investors lifted its position in Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after buying an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. GQG Partners LLC increased its stake in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after acquiring an additional 9,541,366 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Uber Technologies Company Profile

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.