Wells Fargo & Company Lowers Uber Technologies (NYSE:UBER) Price Target to $120.00

Uber Technologies (NYSE:UBER) had its price objective dropped by Wells Fargo & Company from $125.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 27.78% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Barclays reiterated an “overweight” rating on shares of Uber Technologies in a report on Wednesday. Cowen restated a “buy” rating on shares of Uber Technologies in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $108.00 price target on shares of Uber Technologies in a research note on Wednesday, October 29th. Finally, DA Davidson raised their price objective on Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.71.

Uber Technologies Price Performance

Uber Technologies stock traded down $0.76 during mid-day trading on Wednesday, reaching $93.91. The company had a trading volume of 4,087,860 shares, compared to its average volume of 20,675,514. Uber Technologies has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $195.84 billion, a P/E ratio of 16.07 and a beta of 1.46. The business has a fifty day simple moving average of $95.62 and a 200 day simple moving average of $90.93.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 604,946 shares of company stock worth $58,950,116. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC grew its holdings in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after purchasing an additional 6,129 shares during the period. Bison Wealth LLC lifted its stake in shares of Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock worth $229,000 after buying an additional 641 shares in the last quarter. Financial Counselors Inc. bought a new position in shares of Uber Technologies in the first quarter worth approximately $246,000. Finally, Stratos Wealth Advisors LLC lifted its stake in shares of Uber Technologies by 42.9% in the first quarter. Stratos Wealth Advisors LLC now owns 11,935 shares of the ride-sharing company’s stock worth $870,000 after buying an additional 3,582 shares in the last quarter. 80.24% of the stock is owned by 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.