Uber Technologies (NYSE:UBER) Price Target Cut to $80.00 by Analysts at JPMorgan Chase & Co.

Uber Technologies (NYSE:UBER) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $90.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the ride-sharing company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.96% from the stock’s previous close.

A number of other brokerages have also recently issued reports on UBER. Wolfe Research lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Truist Financial boosted their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Uber Technologies Stock Performance

Uber Technologies stock traded up $2.18 on Tuesday, hitting $67.82. The company’s stock had a trading volume of 9,257,834 shares, compared to its average volume of 20,183,687. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $73.68 and a 200-day moving average price of $71.67. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The firm has a market cap of $141.87 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, equities analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 in the last quarter. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Navalign LLC raised its holdings in shares of Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after purchasing an additional 126 shares during the period. Welch & Forbes LLC lifted its position in shares of Uber Technologies by 3.9% in the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock valued at $237,000 after buying an additional 148 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its position in shares of Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after buying an additional 150 shares during the last quarter. United Advisor Group LLC boosted its stake in shares of Uber Technologies by 3.6% during the 4th quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company’s stock worth $263,000 after acquiring an additional 153 shares during the period. Finally, Drive Wealth Management LLC increased its holdings in shares of Uber Technologies by 3.1% during the 4th quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock worth $312,000 after acquiring an additional 155 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.