Wells Fargo & Company Boosts Uber Technologies (NYSE:UBER) Price Target to $91.00

Uber Technologies (NYSE:UBER) had its price target hoisted by Wells Fargo & Company from $89.00 to $91.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the ride-sharing company’s stock.

A number of other brokerages also recently issued reports on UBER. Oppenheimer reaffirmed an outperform rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, June 5th. Roth Mkm reiterated a buy rating and issued a $89.00 price objective (down previously from $91.00) on shares of Uber Technologies in a research note on Friday, May 10th. Tigress Financial increased their price objective on shares of Uber Technologies from $72.00 to $96.00 and gave the stock a buy rating in a research note on Friday, April 19th. Royal Bank of Canada reiterated an outperform rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Tuesday, May 28th. Finally, Bank of America lowered their price objective on shares of Uber Technologies from $91.00 to $87.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies has an average rating of Moderate Buy and an average price target of $84.41.

Uber Technologies Stock Up 3.3 %

Shares of NYSE UBER opened at $72.68 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies has a 12 month low of $40.09 and a 12 month high of $82.14. The firm has a market capitalization of $151.87 billion, a PE ratio of 117.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.37. The firm has a fifty day simple moving average of $67.90 and a two-hundred day simple moving average of $69.83.

Uber Technologies (NYSE:UBER) last issued 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). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities analysts expect that Uber Technologies will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the transaction, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the sale, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Insiders sold 635,984 shares of company stock valued at $42,258,297 in the last three months. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Covenant Asset Management LLC grew its holdings in Uber Technologies by 0.3% during the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after acquiring an additional 157 shares during the period. Hilltop Holdings Inc. grew its holdings in Uber Technologies by 2.9% during the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after acquiring an additional 157 shares during the period. Sivia Capital Partners LLC grew its holdings in Uber Technologies by 3.3% during the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after acquiring an additional 157 shares during the period. Wellington Shields Capital Management LLC grew its holdings 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, Industrial Alliance Investment Management Inc. grew its holdings in Uber Technologies by 3.2% in the first quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock valued at $398,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.