Uber Technologies (NYSE:UBER) Price Target Cut to $88.00 by Analysts at TD Cowen

Uber Technologies (NYSE:UBER) had its price objective lowered by investment analysts at TD Cowen from $90.00 to $88.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. TD Cowen’s target price points to a potential upside of 20.86% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Uber Technologies from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday. Fox Advisors downgraded shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

Uber Technologies Trading Up 11.9 %

NYSE UBER opened at $72.81 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The stock has a market capitalization of $152.30 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The firm has a 50 day moving average of $73.82 and a two-hundred day moving average of $71.55.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, research analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were 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 in the company, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky increased its holdings in Uber Technologies by 4.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Polianta Ltd acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $1,206,000. Allworth Financial LP boosted its stake in shares of Uber Technologies by 8.9% during the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Uber Technologies during the 3rd quarter worth about $1,041,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $3,188,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.