Uber Technologies (NYSE:UBER) Price Target Cut to $46.00

Uber Technologies (NYSE:UBER – Get Rating) had its target price lowered by research analysts at Wells Fargo & Company from $55.00 to $46.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 51.52% from the stock’s previous close.

UBER has been the subject of several other research reports. Morgan Stanley decreased their target price on shares of Uber Technologies from $70.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Jefferies Financial Group initiated coverage on shares of Uber Technologies in a research report on Monday, January 9th. They issued a “buy” rating and a $38.00 target price for the company. Needham & Company LLC upped their target price on shares of Uber Technologies from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Truist Financial decreased their price objective on shares of Uber Technologies from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, October 24th. Finally, Cowen decreased their price objective on shares of Uber Technologies from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, October 24th. One equities research analyst has rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.03.

Uber Technologies Price Performance

NYSE UBER opened at $30.36 on Thursday. Uber Technologies has a 52 week low of $19.90 and a 52 week high of $42.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.33. The stock has a market cap of $60.55 billion, a price-to-earnings ratio of -6.69 and a beta of 1.18. The company has a 50-day moving average price of $27.31 and a two-hundred day moving average price of $27.57.

Uber Technologies (NYSE:UBER – Get Rating) last posted its earnings results on Tuesday, November 1st. The ride-sharing company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.44). Uber Technologies had a negative return on equity of 90.49% and a negative net margin of 30.45%. The firm had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $8.08 billion. Analysts forecast that Uber Technologies will post -5.14 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 63,100 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $31.02, for a total value of $1,957,362.00. Following the completion of the sale, the insider now owns 80,750 shares in the company, valued at approximately $2,504,865. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently made changes to their positions in UBER. Core Alternative Capital lifted its position in Uber Technologies by 76.5% in the 2nd quarter. Core Alternative Capital now owns 1,347 shares of the ride-sharing company’s stock worth $28,000 after buying an additional 584 shares in the last quarter. Crewe Advisors LLC lifted its position in Uber Technologies by 176.4% in the 2nd quarter. Crewe Advisors LLC now owns 1,382 shares of the ride-sharing company’s stock worth $28,000 after buying an additional 882 shares in the last quarter. CX Institutional purchased a new stake in Uber Technologies in the 2nd quarter worth approximately $28,000. Center for Financial Planning Inc. lifted its position in Uber Technologies by 13,000.0% in the 3rd quarter. Center for Financial Planning Inc. now owns 1,310 shares of the ride-sharing company’s stock worth $35,000 after buying an additional 1,300 shares in the last quarter. Finally, Motco purchased a new stake in Uber Technologies in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Uber Technologies Company Profile

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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.