Uber Technologies (NYSE:UBER) Price Target Raised to $102.00 at Citigroup

Uber Technologies (NYSE:UBER) had its price objective raised by research analysts at Citigroup from $92.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the ride-sharing company’s stock. Citigroup’s target price would indicate a potential upside of 23.49% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Arete Research raised shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Piper Sandler reiterated an “overweight” rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Wedbush downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $85.00 in a report on Thursday. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, TD Cowen cut their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $92.69.

Uber Technologies Stock Up 0.4 %

Shares of Uber Technologies stock opened at $82.60 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $74.72 and a 200 day moving average price of $71.59. Uber Technologies has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a market cap of $172.78 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.32) EPS. On average, sell-side analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,904 shares of company stock worth $6,027,619. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Polianta Ltd purchased a new stake in shares of Uber Technologies in the fourth quarter worth approximately $1,206,000. Allworth Financial LP lifted its position in Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after buying an additional 1,663 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Uber Technologies during the 4th quarter valued at $3,188,000. Mirador Capital Partners LP grew its holdings in shares of Uber Technologies by 40.4% during the 4th quarter. Mirador Capital Partners LP now owns 85,214 shares of the ride-sharing company’s stock valued at $5,140,000 after acquiring an additional 24,520 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its stake in shares of Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after acquiring an additional 399,008 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

About Uber Technologies

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.