Uber Technologies (NYSE:UBER) Price Target Raised to $90.00 at TD Cowen

Uber Technologies (NYSE:UBER) had its price target hoisted by TD Cowen from $88.00 to $90.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

Other equities research analysts have also issued reports about the stock. Wedbush reaffirmed an outperform rating and set a $85.00 price objective on shares of Uber Technologies in a report on Wednesday, May 8th. BMO Capital Markets reaffirmed an outperform rating and set a $92.00 price objective on shares of Uber Technologies in a report on Wednesday, May 15th. Loop Capital cut their price objective on shares of Uber Technologies from $88.00 to $83.00 and set a buy rating for the company in a report on Thursday, May 16th. Jefferies Financial Group cut their price objective on shares of Uber Technologies from $103.00 to $100.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Wells Fargo & Company increased their price objective on shares of Uber Technologies from $89.00 to $91.00 and gave the company an overweight rating in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies currently has a consensus rating of Moderate Buy and an average price target of $85.97.

Uber Technologies Trading Down 0.6 %

Uber Technologies stock opened at $65.74 on Tuesday. The firm has a 50 day moving average of $68.60 and a 200 day moving average of $70.89. The firm has a market capitalization of $137.37 billion, a price-to-earnings ratio of 106.03, a P/E/G ratio of 1.44 and a beta of 1.36. Uber Technologies has a 12-month low of $40.09 and a 12-month 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 0.80.

Uber Technologies (NYSE:UBER) last released 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 firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) earnings per share. As a group, research analysts predict that Uber Technologies will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Tony West sold 89,234 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the transaction, the insider now owns 124,945 shares in the company, valued at $8,518,750.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,984 shares of company stock worth $78,213,297 over the last quarter. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rational Advisors LLC grew its stake in Uber Technologies by 16.8% in the second quarter. Rational Advisors LLC now owns 48,600 shares of the ride-sharing company’s stock valued at $3,532,000 after purchasing an additional 7,000 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Uber Technologies by 25.2% in the second quarter. Verdence Capital Advisors LLC now owns 5,801 shares of the ride-sharing company’s stock valued at $422,000 after purchasing an additional 1,168 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Uber Technologies by 0.4% in the second quarter. Proficio Capital Partners LLC now owns 69,948 shares of the ride-sharing company’s stock valued at $5,084,000 after purchasing an additional 274 shares during the last quarter. Cypress Capital Group purchased a new position in Uber Technologies in the second quarter valued at about $206,000. Finally, Highland Capital Management LLC boosted its holdings in Uber Technologies by 0.7% in the second quarter. Highland Capital Management LLC now owns 184,789 shares of the ride-sharing company’s stock worth $13,430,000 after acquiring an additional 1,206 shares in the last quarter. 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.