The Goldman Sachs Group Lowers Uber Technologies (NYSE:UBER) Price Target to $45.00

Posted by on Jun 10th, 2022

Uber Technologies (NYSE:UBER – Get Rating) had its target price decreased by investment analysts at The Goldman Sachs Group from $55.00 to $45.00 in a report released on Thursday, The Fly reports. The Goldman Sachs Group’s target price indicates a potential upside of 76.89% from the stock’s current price.

UBER has been the subject of several other research reports. Morgan Stanley reduced their price objective on shares of Uber Technologies from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. BTIG Research reduced their price objective on shares of Uber Technologies from $65.00 to $55.00 in a research report on Thursday, May 5th. Wells Fargo & Company reduced their price objective on shares of Uber Technologies from $68.00 to $55.00 in a research report on Thursday, May 5th. JMP Securities reduced their price objective on shares of Uber Technologies from $80.00 to $69.00 and set an “outperform” rating for the company in a research report on Thursday, February 10th. Finally, MKM Partners reduced their price objective on shares of Uber Technologies from $65.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 5th. Thirty equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.43.

Shares of NYSE:UBER traded down $0.39 during midday trading on Thursday, hitting $25.44. The company’s stock had a trading volume of 41,336,175 shares, compared to its average volume of 34,429,324. The business’s 50 day simple moving average is $28.13 and its 200 day simple moving average is $34.10. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $49.96 billion, a P/E ratio of -7.71 and a beta of 1.33. Uber Technologies has a 12-month low of $21.27 and a 12-month high of $52.36.

Uber Technologies (NYSE:UBER – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The ride-sharing company reported ($3.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($2.77). Uber Technologies had a negative net margin of 29.51% and a positive return on equity of 9.68%. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the business earned ($0.57) earnings per share. Uber Technologies’s revenue was up 136.3% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies will post -3.58 earnings per share for the current fiscal year.

In other news, CEO Dara Khosrowshahi acquired 200,000 shares of Uber Technologies stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average cost of $26.73 per share, for a total transaction of $5,346,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,420,968 shares of the company’s stock, valued at approximately $37,982,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.06% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Ahrens Investment Partners LLC acquired a new stake in Uber Technologies during the 4th quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Uber Technologies by 222.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 606 shares of the ride-sharing company’s stock valued at $25,000 after buying an additional 418 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Uber Technologies during the 4th quarter valued at about $27,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Uber Technologies during the 4th quarter valued at about $27,000. Finally, Monolith Advisors acquired a new stake in shares of Uber Technologies during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

About Uber Technologies (Get Rating)

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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