DA Davidson Boosts Uber Technologies (NYSE:UBER) Price Target to $82.00

Uber Technologies (NYSE:UBER) had its price target raised by DA Davidson from $81.00 to $82.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

Several other analysts have also commented on the stock. Melius initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They set a hold rating and a $77.00 price objective for the company. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a hold rating and a $77.00 price target for the company. BMO Capital Markets reissued an outperform rating and set a $92.00 price objective on shares of Uber Technologies in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an outperform rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group reduced their price target on Uber Technologies from $103.00 to $100.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Four 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 currently has an average rating of Moderate Buy and a consensus target price of $87.47.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded down $0.47 on Wednesday, reaching $68.54. The company’s stock had a trading volume of 12,770,320 shares, compared to its average volume of 19,276,854. The stock has a market capitalization of $143.22 billion, a P/E ratio of 110.55, a PEG ratio of 1.45 and a beta of 1.36. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $82.14. The stock’s 50-day moving average is $68.47 and its two-hundred day moving average is $70.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies will post 0.84 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Uber Technologies news, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares in the company, valued at $6,851,103.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock valued at $78,213,297 in the last ninety days. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. PFG Investments LLC raised its holdings 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 purchasing an additional 50,080 shares in the last quarter. US Bancorp DE raised its stake in shares of Uber Technologies by 2.5% in the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after buying an additional 24,059 shares in the last quarter. SVB Wealth LLC lifted its stake in Uber Technologies by 28.1% during the fourth quarter. SVB Wealth LLC now owns 51,341 shares of the ride-sharing company’s stock worth $3,161,000 after purchasing an additional 11,269 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Uber Technologies in the 4th quarter valued at $7,659,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Uber Technologies by 70.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock worth $959,000 after purchasing an additional 6,426 shares during 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.