Wells Fargo & Company Cuts Uber Technologies (NYSE:UBER) Price Target to $89.00

Uber Technologies (NYSE:UBER) had its price objective lowered by analysts at Wells Fargo & Company from $95.00 to $89.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 30.65% from the company’s previous close.

A number of other analysts also recently commented on the company. Argus raised their price objective on Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Monday, April 29th. UBS Group raised their price objective on Uber Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Uber Technologies from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, BTIG Research boosted their price target on Uber Technologies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $83.56.

Uber Technologies Stock Up 2.6 %

Shares of NYSE UBER traded up $1.72 during mid-day trading on Thursday, reaching $68.12. 12,262,987 shares of the company traded hands, compared to its average volume of 20,451,344. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $141.78 billion, a PE ratio of 78.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39. The company’s fifty day moving average is $74.80 and its two-hundred day moving average is $65.83. Uber Technologies has a fifty-two week low of $37.07 and a fifty-two week high of $82.14.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. 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 company posted ($0.08) EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that Uber Technologies will post 1.23 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

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

Institutional Trading of Uber Technologies

Several large investors have recently bought and sold shares of the business. Covenant Asset Management LLC boosted its stake in Uber Technologies by 0.3% in the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after buying an additional 157 shares in the last quarter. Hilltop Holdings Inc. raised its position in Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after purchasing an additional 157 shares during the last quarter. Sivia Capital Partners LLC raised its position in Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after purchasing an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC raised its position in Uber Technologies by 6.1% in the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after purchasing an additional 159 shares during the last quarter. Finally, Drive Wealth Management LLC raised its position in Uber Technologies by 3.6% in the fourth quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock valued at $289,000 after purchasing an additional 163 shares during the last quarter. 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.