DA Davidson Increases Uber Technologies (NYSE:UBER) Price Target to $98.00

Uber Technologies (NYSE:UBER) had its target price lifted by investment analysts at DA Davidson from $80.00 to $98.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. DA Davidson’s price objective indicates a potential upside of 18.64% from the company’s previous close.

A number of other research analysts have also issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Evercore ISI cut their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $82.60 on Thursday. The company has a market capitalization of $172.78 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The company’s fifty day moving average price is $74.72 and its 200 day moving average price is $71.59. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. On average, research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,904 shares of company stock worth $6,027,619. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Polianta Ltd acquired a new stake in Uber Technologies during the fourth quarter worth approximately $1,206,000. Allworth Financial LP grew its position in shares of Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after buying an additional 1,663 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in Uber Technologies during the 4th quarter worth $3,188,000. Mirador Capital Partners LP lifted its position in Uber Technologies by 40.4% in the fourth quarter. Mirador Capital Partners LP now owns 85,214 shares of the ride-sharing company’s stock valued at $5,140,000 after acquiring an additional 24,520 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock valued at $24,280,000 after acquiring an additional 399,008 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.