Uber Technologies (NYSE:UBER) Price Target Lowered to $53.00 at Morgan Stanley
Uber Technologies (NYSE:UBER) had its target price cut by Morgan Stanley from $57.00 to $53.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the ride-sharing company’s stock. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of Uber Technologies in a research report on Tuesday, June 25th. They set a neutral rating on the stock. Atlantic Securities raised shares of Uber Technologies from a neutral rating to an overweight rating and set a $40.40 price target on the stock in a research report on Friday, May 31st. Cross Research began coverage on shares of Uber Technologies in a research report on Tuesday, May 28th. They set a hold rating on the stock. Canaccord Genuity began coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set a buy rating and a $55.00 price target on the stock. Finally, Consumer Edge began coverage on shares of Uber Technologies in a research report on Tuesday, May 21st. They set an equal weight rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Uber Technologies presently has a consensus rating of Buy and an average target price of $53.50.
Uber Technologies stock traded down $0.83 during trading on Thursday, reaching $33.24. The company had a trading volume of 354,867 shares, compared to its average volume of 9,233,832. Uber Technologies has a 12-month low of $30.67 and a 12-month high of $47.08. The business’s 50 day moving average price is $36.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.57 and a current ratio of 2.57.
Several hedge funds and other institutional investors have recently bought and sold shares of UBER. River & Mercantile Asset Management LLP acquired a new stake in Uber Technologies in the second quarter valued at $3,466,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Uber Technologies in the second quarter valued at $1,658,000. Rehmann Capital Advisory Group acquired a new stake in Uber Technologies in the second quarter valued at $76,000. Atria Investments LLC acquired a new stake in Uber Technologies in the second quarter valued at $356,000. Finally, Treasurer of the State of North Carolina acquired a new stake in Uber Technologies in the second quarter valued at $5,233,000. 45.32% of the stock is currently owned by institutional investors and hedge funds.
About Uber Technologies
Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.
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