Morgan Stanley Boosts Uber Technologies (NYSE:UBER) Price Target to $95.00

Uber Technologies (NYSE:UBER) had its price objective upped by equities research analysts at Morgan Stanley from $90.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 40.08% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, June 5th. JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a report on Thursday, May 16th. Wolfe Research assumed coverage on shares of Uber Technologies in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 target price on the stock. Truist Financial upped their price target on shares of Uber Technologies from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, DA Davidson reiterated a “buy” rating and issued a $81.00 price objective on shares of Uber Technologies in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.97.

Uber Technologies Price Performance

Shares of NYSE:UBER traded up $0.09 on Tuesday, hitting $67.82. The company’s stock had a trading volume of 5,121,859 shares, compared to its average volume of 18,857,920. The company has a market capitalization of $141.71 billion, a PE ratio of 109.39, a PEG ratio of 1.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. The company has a 50-day simple moving average of $68.58 and a 200 day simple moving average of $70.89. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $82.14.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company’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 earned ($0.08) earnings per share. Sell-side analysts forecast that Uber Technologies will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tony West sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock valued at $78,213,297 over the last 90 days. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Advisor Resource Council bought a new stake in Uber Technologies during the fourth quarter valued at about $216,000. HB Wealth Management LLC raised its stake in Uber Technologies by 12.7% during the 4th quarter. HB Wealth Management LLC now owns 22,088 shares of the ride-sharing company’s stock valued at $1,360,000 after purchasing an additional 2,484 shares during the period. CoreCap Advisors LLC boosted its stake in Uber Technologies by 8.3% in the 4th quarter. CoreCap Advisors LLC now owns 9,473 shares of the ride-sharing company’s stock worth $583,000 after purchasing an additional 729 shares during the period. Salem Investment Counselors Inc. grew its holdings in Uber Technologies by 136.4% during the 4th quarter. Salem Investment Counselors Inc. now owns 688 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 397 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $30,000. 80.24% of the stock is owned by hedge funds and other 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.