Evercore ISI Boosts Uber Technologies (NYSE:UBER) Price Target to $120.00

Uber Technologies (NYSE:UBER) had its price target raised by Evercore ISI from $90.00 to $120.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the ride-sharing company’s stock. Evercore ISI’s price target would suggest a potential upside of 63.82% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. DA Davidson reissued a “buy” rating and issued a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, October 17th. Oppenheimer increased their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. UBS Group increased their target price on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Friday, October 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Monday, October 7th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.22.

Uber Technologies Price Performance

Shares of UBER opened at $73.25 on Thursday. Uber Technologies has a fifty-two week low of $45.25 and a fifty-two week high of $87.00. The firm’s 50 day moving average price is $75.36 and its 200 day moving average price is $70.88. The company has a market cap of $153.89 billion, a P/E ratio of 36.44, a PEG ratio of 1.24 and a beta of 1.34. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company 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 firm posted $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Uber Technologies will post 1.1 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

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

Hedge Funds Weigh In On Uber Technologies

Several hedge funds have recently added to or reduced their stakes in UBER. GHP Investment Advisors Inc. increased its holdings in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares in the last quarter. WR Wealth Planners LLC increased its holdings in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Uber Technologies during the 1st quarter valued at about $32,000. MCF Advisors LLC grew its holdings in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after buying an additional 405 shares in the last quarter. Finally, Founders Capital Management purchased a new stake in shares of Uber Technologies during the second quarter worth about $33,000. 80.24% of the stock is currently 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.