Truist Financial Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its price objective boosted by investment analysts at Truist Financial from $90.00 to $92.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Truist Financial’s price objective would suggest a potential upside of 19.64% from the company’s previous close.

Several other research firms have also recently weighed in on UBER. Evercore ISI decreased their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Wolfe Research increased their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Loop Capital lifted their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.71.

Uber Technologies Trading Up 0.5 %

Shares of UBER stock traded up $0.42 during mid-day trading on Thursday, reaching $76.90. The stock had a trading volume of 3,649,740 shares, compared to its average volume of 26,344,771. The firm has a market capitalization of $160.64 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The stock’s 50-day moving average price is $70.35 and its two-hundred day moving average price is $71.60. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Equities analysts expect that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors lifted its position in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in Uber Technologies in the 4th quarter valued at about $1,467,754,000. Jennison Associates LLC increased its stake in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners acquired a new position in Uber Technologies in the 4th quarter valued at about $381,057,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after buying an additional 5,753,637 shares during the period. 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.