Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Uber Technologies (NYSE:UBER) had its price objective raised by equities research analysts at Cantor Fitzgerald from $96.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 15.80% from the company’s previous close.

Several other research analysts also recently weighed in on UBER. Bank of America upped their price target on Uber Technologies from $96.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Stifel Nicolaus assumed coverage on shares of Uber Technologies in a research report on Wednesday, June 11th. They set a “buy” rating and a $110.00 target price for the company. Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a research note on Friday, May 23rd. Citigroup boosted their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Uber Technologies Stock Performance

NYSE UBER traded down $0.11 on Wednesday, reaching $91.54. 3,162,855 shares of the stock were exchanged, compared to its average volume of 20,922,006. The firm has a market capitalization of $191.42 billion, a PE ratio of 16.08, a PEG ratio of 1.08 and a beta of 1.38. Uber Technologies has a one year low of $54.84 and a one year high of $93.60. The company’s 50-day simple moving average is $84.12 and its two-hundred day simple moving average is $74.72. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) earnings per share. Analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter valued at about $27,000. Kozak & Associates Inc. lifted its holdings in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 223 shares during the period. Vision Financial Markets LLC purchased a new stake in Uber Technologies in the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC increased its holdings in Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares during the period. Finally, Perkins Coie Trust Co raised its position in Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 306 shares during the last quarter. 80.24% of the stock is 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.