Citigroup Increases Uber Technologies (NYSE:UBER) Price Target to $93.00

Uber Technologies (NYSE:UBER) had its price target hoisted by stock analysts at Citigroup from $91.00 to $93.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. Citigroup’s target price would indicate a potential upside of 36.93% from the company’s previous close.

UBER has been the subject of several other research reports. DA Davidson reaffirmed a “buy” rating and set a $81.00 price target on shares of Uber Technologies in a research note on Wednesday. Oppenheimer restated an “outperform” rating and set a $90.00 price target on shares of Uber Technologies in a report on Monday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Tigress Financial lifted their price objective on shares of Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, UBS Group lifted their price objective on shares of Uber Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.44.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $1.52 during trading hours on Thursday, hitting $67.92. 21,214,093 shares of the stock were exchanged, compared to its average volume of 20,550,176. 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 company has a market cap of $141.37 billion, a PE ratio of 78.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39. The company’s fifty day simple moving average is $74.80 and its two-hundred day simple moving average is $65.83. Uber Technologies has a 1-year low of $37.07 and a 1-year high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. On average, sell-side analysts predict that Uber Technologies will post 1.23 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jill Hazelbaker sold 20,000 shares of Uber Technologies stock in a transaction on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at $8,350,380.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tony West sold 18,750 shares of the business’s 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 directly owns 185,566 shares of the company’s stock, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Highlander Capital Management LLC raised its stake in Uber Technologies by 100.0% during the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 250 shares in the last quarter. PFG Investments LLC lifted its position in shares of Uber Technologies by 374.6% during the 1st quarter. PFG Investments LLC now owns 63,450 shares of the ride-sharing company’s stock valued at $4,885,000 after acquiring an additional 50,080 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Uber Technologies by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 877,589 shares of the ride-sharing company’s stock valued at $40,360,000 after acquiring an additional 3,530 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Uber Technologies by 73.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 33,535 shares of the ride-sharing company’s stock valued at $2,065,000 after purchasing an additional 14,153 shares in the last quarter. Finally, Financial Enhancement Group LLC purchased a new stake in shares of Uber Technologies in the fourth quarter valued at $1,112,000. Institutional investors and hedge funds 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.