Uber Technologies (NYSE:UBER) Price Target Cut to $87.00 by Analysts at Wells Fargo & Company

Uber Technologies (NYSE:UBER) had its price objective dropped by investment analysts at Wells Fargo & Company from $90.00 to $87.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 29.91% from the stock’s current price.

UBER has been the topic of a number of other research reports. KeyCorp dropped their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Loop Capital raised their target price on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.58.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $2.49 during trading on Thursday, reaching $66.97. 11,255,802 shares of the company traded hands, compared to its average volume of 27,156,082. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $65.46 and a 200-day simple moving average of $70.11. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00. The stock has a market capitalization of $141.02 billion, a PE ratio of 33.35, a P/E/G ratio of 0.77 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Equities research analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Avion Wealth lifted its holdings in Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 223 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $33,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $35,000. Finally, Financial Management Professionals Inc. grew its stake in Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. 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.