KeyCorp Issues Pessimistic Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price target reduced by equities research analysts at KeyCorp from $90.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. KeyCorp’s target price suggests a potential upside of 16.04% from the company’s previous close.

UBER has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Monday, October 7th. Wells Fargo & Company restated an “overweight” rating and set a $97.00 price target on shares of Uber Technologies in a research note on Friday, September 13th. Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Finally, Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.22.

Uber Technologies Stock Performance

UBER stock opened at $73.25 on Friday. Uber Technologies has a one year low of $45.25 and a one year high of $87.00. The firm has a market cap of $153.89 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 1.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.21 and a current ratio of 1.41. The firm has a 50-day simple moving average of $75.36 and a two-hundred day simple moving average of $70.85.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities analysts forecast that Uber Technologies will post 1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after buying an additional 3,623,951 shares during the last quarter. Capital Research Global Investors increased its holdings in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. GQG Partners LLC lifted its stake in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after purchasing an additional 9,541,366 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the period. 80.24% of the stock is currently 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.