Bank of America Issues Positive Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective lifted by Bank of America from $96.00 to $97.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the ride-sharing company’s stock.

UBER has been the subject of several other research reports. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial raised their price target on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Wedbush cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $85.00 in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday. Finally, Fox Advisors downgraded shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Price Performance

Shares of UBER stock opened at $82.60 on Thursday. The stock has a 50 day moving average price of $74.72 and a 200 day moving average price of $71.53. The firm has a market capitalization of $172.73 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00.

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

Insider Activity

In other news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,904 shares of company stock valued at $6,027,619 in the last ninety days. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Navalign LLC grew its position in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after acquiring an additional 126 shares during the period. Grove Bank & Trust increased its position in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after buying an additional 133 shares in the last quarter. Forum Financial Management LP raised its stake in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 138 shares in the last quarter. Finally, Amplius Wealth Advisors LLC grew its stake in Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock valued at $302,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.