Citigroup Raises Uber Technologies (NYSE:UBER) Price Target to $98.00

Uber Technologies (NYSE:UBER) had its price objective hoisted by Citigroup from $96.00 to $98.00 in a research note released on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the ride-sharing company’s stock.

A number of other brokerages have also recently issued reports on UBER. Melius assumed coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They issued a hold rating and a $77.00 price objective on the stock. JMP Securities restated a market outperform rating and set a $75.00 price objective on shares of Uber Technologies in a research report on Tuesday, July 30th. Jefferies Financial Group dropped their target price on shares of Uber Technologies from $103.00 to $100.00 and set a buy rating for the company in a report on Thursday, May 9th. DA Davidson upped their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday. Finally, TD Cowen upped their target price on Uber Technologies from $88.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $87.47.

Uber Technologies Stock Performance

Shares of UBER stock traded down $0.47 on Wednesday, hitting $68.54. The company’s stock had a trading volume of 12,770,320 shares, compared to its average volume of 19,276,854. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The company has a market capitalization of $143.22 billion, a PE ratio of 110.55, a PEG ratio of 1.45 and a beta of 1.36. The stock’s 50 day moving average is $68.47 and its 200-day moving average is $70.95. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Uber Technologies will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 89,234 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the transaction, the insider now owns 124,945 shares in the company, valued at $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock worth $78,213,297 over the last three months. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UBER. Wealthspire Advisors LLC raised its holdings in shares of Uber Technologies by 0.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the period. Covenant Asset Management LLC raised its stake in shares of 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 during the period. Hilltop Holdings Inc. grew its stake in shares of Uber Technologies by 2.9% during the 4th 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 increased its holdings in Uber Technologies by 3.3% in the 1st 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 last quarter. Finally, Wellington Shields Capital Management LLC lifted its holdings in Uber Technologies by 6.1% during 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. Institutional investors 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.