Wells Fargo & Company Boosts Uber Technologies (NYSE:UBER) Price Target to $91.00

Uber Technologies (NYSE:UBER) had its price objective hoisted by Wells Fargo & Company from $89.00 to $91.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the ride-sharing company’s stock.

Several other research analysts also recently issued reports on the company. Moffett Nathanson reaffirmed a buy rating and set a $92.00 price target on shares of Uber Technologies in a research note on Thursday, April 11th. Roth Mkm reaffirmed a buy rating and set a $89.00 price target (down previously from $91.00) on shares of Uber Technologies in a research note on Friday, May 10th. Argus lifted their price target on Uber Technologies from $69.00 to $95.00 and gave the stock a buy rating in a research note on Monday, March 4th. BMO Capital Markets reaffirmed an outperform rating and set a $92.00 price target on shares of Uber Technologies in a research note on Wednesday, May 15th. Finally, DA Davidson reaffirmed a buy rating and set a $81.00 price target on shares of Uber Technologies in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $84.41.

Uber Technologies Price Performance

UBER stock opened at $72.68 on Friday. The company has a market capitalization of $151.87 billion, a P/E ratio of 117.23, a PEG ratio of 1.59 and a beta of 1.37. Uber Technologies has a twelve month low of $40.09 and a twelve month high of $82.14. The business has a 50 day simple moving average of $67.90 and a 200-day simple moving average of $69.83. 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 issued its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.09 billion. During the same period in the prior year, the business earned ($0.08) earnings per share. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Uber Technologies will post 0.85 EPS for the current year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. Insiders sold 635,984 shares of company stock valued at $42,258,297 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several institutional investors have recently modified their holdings of the company. Highlander Capital Management LLC lifted its position in shares of Uber Technologies by 100.0% during the 4th quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 250 shares during the period. PFG Investments LLC lifted its position in shares of Uber Technologies by 374.6% during the 1st quarter. PFG Investments LLC now owns 63,450 shares of the ride-sharing company’s stock worth $4,885,000 after buying an additional 50,080 shares during the period. Compagnie Lombard Odier SCmA lifted its position in shares of Uber Technologies by 73.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 33,535 shares of the ride-sharing company’s stock worth $2,065,000 after buying an additional 14,153 shares during the period. Financial Enhancement Group LLC bought a new position in shares of Uber Technologies during the 4th quarter worth approximately $1,112,000. Finally, Fifth Third Bancorp lifted its position in shares of Uber Technologies by 54.3% during the 4th quarter. Fifth Third Bancorp now owns 68,894 shares of the ride-sharing company’s stock worth $4,242,000 after buying an additional 24,247 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.