Wells Fargo & Company Has Lowered Expectations for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its target price decreased by Wells Fargo & Company from $90.00 to $87.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the ride-sharing company’s stock.

UBER has been the topic of a number of other reports. Truist Financial lowered their target price on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Daiwa Capital Markets downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Thursday, October 17th. Citigroup cut their target price on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp decreased their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $90.19.

Uber Technologies Trading Up 8.6 %

Uber Technologies stock opened at $70.04 on Thursday. The firm has a 50 day simple moving average of $65.31 and a 200-day simple moving average of $70.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $147.47 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. As a group, equities research analysts expect that Uber Technologies will post 1.89 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently bought and sold shares of the stock. Avion Wealth increased its holdings in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares during the period. Kieckhefer Group LLC bought a new stake in Uber Technologies during the fourth quarter worth approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in Uber Technologies during the fourth quarter valued at approximately $35,000. Finally, Financial Management Professionals Inc. raised its position in shares of Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. 80.24% of the stock is currently owned by institutional investors.

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.