Loop Capital Boosts Uber Technologies (NYSE:UBER) Price Target to $86.00

Uber Technologies (NYSE:UBER) had its target price raised by Loop Capital from $84.00 to $86.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

UBER has been the topic of several other research reports. Citigroup increased their price objective on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Royal Bank of Canada boosted their price objective on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen upped their price target on shares of Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Six equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Stock Performance

NYSE:UBER traded up $0.02 during trading hours on Wednesday, reaching $74.38. 4,312,988 shares of the stock were exchanged, compared to its average volume of 18,042,330. Uber Technologies has a 52 week low of $48.90 and a 52 week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $156.62 billion, a P/E ratio of 36.98, a P/E/G ratio of 1.16 and a beta of 1.34. The firm has a 50 day simple moving average of $75.45 and a 200-day simple moving average of $70.92.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies will post 1.15 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank lifted its position in shares of Uber Technologies by 0.6% in the third quarter. Swiss National Bank now owns 5,581,800 shares of the ride-sharing company’s stock worth $419,528,000 after purchasing an additional 35,200 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Uber Technologies in the 3rd quarter valued at approximately $15,490,000. Tower Bridge Advisors purchased a new stake in Uber Technologies in the 3rd quarter worth approximately $338,000. Accent Capital Management LLC acquired a new stake in shares of Uber Technologies during the 3rd quarter valued at $509,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in shares of Uber Technologies during the 3rd quarter valued at $253,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.