Uber Technologies (NYSE:UBER) Price Target Cut to $90.00 by Analysts at BTIG Research

Uber Technologies (NYSE:UBER) had its price objective cut by stock analysts at BTIG Research from $100.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. BTIG Research‘s price objective would indicate a potential upside of 26.60% from the stock’s previous close.

A number of other research firms have also weighed in on UBER. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price objective on shares of Uber Technologies in a research report on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $150.00 target price on shares of Uber Technologies in a report on Wednesday, August 5th. Roth Capital lowered their target price on Uber Technologies from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Jefferies Financial Group upped their price target on Uber Technologies from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, BMO Capital Markets set a $119.00 price target on Uber Technologies in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.59.

Uber Technologies Stock Up 6.7%

Shares of UBER stock traded up $4.49 during trading on Wednesday, reaching $71.09. The company’s stock had a trading volume of 21,134,865 shares, compared to its average volume of 18,923,787. Uber Technologies has a 1-year low of $64.04 and a 1-year high of $95.44. The stock’s 50-day moving average price is $70.71 and its 200 day moving average price is $73.25. The company has a market capitalization of $145.21 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 6.38 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.84.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Uber Technologies had a net margin of 17.34% and a return on equity of 43.36%. The company had revenue of $14.77 billion for the quarter, compared to analyst estimates of $14.66 billion. During the same period in the prior year, the business earned $3.11 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Uber Technologies will post 3.20 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 28,170 shares of Uber Technologies stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $71.31, for a total transaction of $2,008,802.70. Following the completion of the sale, the insider directly owned 149,525 shares of the company’s stock, valued at $10,662,627.75. The trade was a 15.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi bought 141,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was bought at an average price of $70.96 per share, with a total value of $10,005,360.00. Following the acquisition, the chief executive officer owned 1,367,100 shares in the company, valued at approximately $97,009,416. This represents a 11.50% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Dunhill Financial LLC acquired a new position in shares of Uber Technologies in the second quarter worth $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Uber Technologies in the 2nd quarter valued at $29,000. William Mack & Associates Inc. acquired a new position in shares of Uber Technologies during the third quarter worth $28,000. Elevation Wealth Partners LLC raised its position in shares of Uber Technologies by 209.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 409 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Finally, Balance Wealth Partners LLC acquired a new stake in shares of Uber Technologies in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Key Uber Technologies News

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Gross Bookings grew 20% for the fifth consecutive quarter. Revenue was $14.77 billion, up 9.6% year over year and slightly ahead of estimates; adjusted EPS of $0.88 also topped consensus. These results point to resilient demand and improving profitability. Uber Q3 results
• Positive Sentiment: Uber is expanding grocery delivery through a Key Food partnership covering more than 300 stores in the Northeast and Florida, adding reach to its Delivery business. Key Food partnership
• Neutral Sentiment: Management is pushing ahead with autonomous vehicles, targeting 700 fully driverless vehicles by year-end and more than 2,000 by 2027. The initiative could help address driver shortages over time, but requires investment and faces execution hurdles. Autonomous vehicle targets
• Negative Sentiment: The profit outlook disappointed: Q4 and full-year guidance fell short of lofty analyst expectations. Also, while adjusted EPS beat estimates, reported GAAP EPS of $0.25 was below the cited $0.94 consensus, making the headline earnings picture mixed. Profit forecast and operating headwinds
• Negative Sentiment: Driver shortages abroad, higher fuel costs, and Middle East tensions weighed on mobility performance and the holiday outlook. Uber is spending more on driver incentives to increase supply, which could pressure costs or lead to higher rider prices. Driver incentives and possible price increases

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that connects consumers with independent drivers, couriers, merchants and transportation providers through its digital platform. Its Mobility business offers ridesharing and other transportation services, including taxi and vehicle-hire options in select markets. The company also provides business travel and transportation management tools for organizations.

Uber’s Delivery segment operates Uber Eats, which enables customers to order meals, groceries and other goods from participating restaurants, retailers and merchants.