Uber Technologies (NYSE:UBER) Given New $85.00 Price Target at Royal Bank of Canada

Uber Technologies (NYSE:UBERFree Report) had its price target increased by Royal Bank of Canada from $65.00 to $85.00 in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the ride-sharing company’s stock.

Other equities analysts have also issued research reports about the company. Bank of America lifted their price target on Uber Technologies from $68.00 to $73.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Truist Financial lifted their price target on Uber Technologies from $58.00 to $68.00 and gave the company a buy rating in a research note on Friday, January 26th. Susquehanna lifted their price target on Uber Technologies from $60.00 to $85.00 and gave the company a positive rating in a research note on Thursday. Needham & Company LLC reiterated a buy rating and issued a $90.00 price target (up previously from $71.00) on shares of Uber Technologies in a research note on Wednesday. Finally, Wedbush reissued an outperform rating and set a $57.00 price objective (up previously from $55.00) on shares of Uber Technologies in a report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $66.64.

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Uber Technologies Price Performance

Uber Technologies stock opened at $71.62 on Thursday. The stock’s fifty day moving average price is $62.68 and its two-hundred day moving average price is $52.45. Uber Technologies has a one year low of $29.22 and a one year high of $73.05. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 1.14. The firm has a market cap of $147.38 billion, a PE ratio of 83.28 and a beta of 1.33.

Uber Technologies (NYSE:UBERGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.50. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.76 billion. During the same quarter last year, the company earned $0.29 EPS. The company’s revenue was up 15.4% on a year-over-year basis. As a group, research analysts expect that Uber Technologies will post 1.05 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $52.84, for a total value of $5,284,000.00. Following the transaction, the chief executive officer now directly owns 1,016,243 shares of the company’s stock, valued at approximately $53,698,280.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jill Hazelbaker sold 18,850 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $53.01, for a total value of $999,238.50. Following the completion of the sale, the insider now directly owns 109,009 shares of the company’s stock, valued at approximately $5,778,567.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $52.84, for a total value of $5,284,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,016,243 shares of the company’s stock, valued at $53,698,280.12. The disclosure for this sale can be found here. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Uber Technologies in the fourth quarter worth approximately $30,000. Highlander Capital Management LLC raised its stake in shares of Uber Technologies by 100.0% in the fourth quarter. Highlander Capital Management LLC now owns 500 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 250 shares during the last quarter. Bfsg LLC purchased a new stake in shares of Uber Technologies in the fourth quarter worth approximately $31,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Uber Technologies by 49.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in shares of Uber Technologies by 82.9% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 578 shares of the ride-sharing company’s stock worth $36,000 after purchasing an additional 262 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

About Uber Technologies

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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 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.

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