Uber Technologies (NYSE:UBER) Price Target Cut to $88.00 by Analysts at TD Cowen

Uber Technologies (NYSE:UBER) had its target price lowered by analysts at TD Cowen from $90.00 to $88.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. TD Cowen’s price objective suggests a potential upside of 29.18% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Uber Technologies from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. JMP Securities reiterated a “market outperform” rating and issued a $85.00 price objective on shares of Uber Technologies in a research report on Thursday, March 28th. Wedbush restated an “outperform” rating and issued a $85.00 price objective on shares of Uber Technologies in a report on Wednesday. Bank of America decreased their price objective on shares of Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $85.00 price target on shares of Uber Technologies in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.56.

Uber Technologies Price Performance

UBER traded up $1.72 during trading on Thursday, hitting $68.12. The company’s stock had a trading volume of 12,262,987 shares, compared to its average volume of 20,451,344. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $141.78 billion, a price-to-earnings ratio of 78.67, a P/E/G ratio of 1.09 and a beta of 1.39. The business’s fifty day simple moving average is $74.80 and its 200 day simple moving average is $65.83. Uber Technologies has a twelve month low of $37.07 and a twelve month high of $82.14.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the previous year, the firm posted ($0.08) EPS. Uber Technologies’s revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Uber Technologies will post 1.23 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the sale, the insider now owns 185,566 shares of the company’s stock, valued at $13,004,465.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the completion of the sale, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony West sold 18,750 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the transaction, the insider now owns 185,566 shares in the company, valued at $13,004,465.28. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC grew its holdings in shares of Uber Technologies by 19.0% during the first quarter. Orion Portfolio Solutions LLC now owns 25,216 shares of the ride-sharing company’s stock worth $1,941,000 after buying an additional 4,024 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Uber Technologies by 11.7% in the first quarter. Blair William & Co. IL now owns 3,210,584 shares of the ride-sharing company’s stock worth $247,183,000 after acquiring an additional 337,219 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Uber Technologies by 5.6% in the first quarter. Kingsview Wealth Management LLC now owns 12,784 shares of the ride-sharing company’s stock valued at $984,000 after purchasing an additional 680 shares during the period. TTP Investments Inc. increased its position in Uber Technologies by 0.7% during the first quarter. TTP Investments Inc. now owns 146,148 shares of the ride-sharing company’s stock worth $11,252,000 after purchasing an additional 1,048 shares during the last quarter. Finally, TBH Global Asset Management LLC raised its stake in Uber Technologies by 59.7% during the first quarter. TBH Global Asset Management LLC now owns 6,683 shares of the ride-sharing company’s stock worth $515,000 after purchasing an additional 2,498 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.