JPMorgan Chase & Co. Boosts Uber Technologies (NYSE:UBER) Price Target to $92.00

Uber Technologies (NYSE:UBER) had its price target upped by JPMorgan Chase & Co. from $80.00 to $92.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the ride-sharing company’s stock.

Several other analysts have also recently issued reports on the stock. Truist Financial upped their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Citigroup decreased their price target on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Finally, KeyCorp decreased their price objective on shares of Uber Technologies from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Eleven 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’s stock. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Price Performance

UBER opened at $82.60 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $74.72 and a 200 day simple moving average of $71.53. The firm has a market cap of $172.73 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. Uber Technologies has a twelve month low of $54.84 and a twelve month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm earned ($0.32) EPS. Uber Technologies’s quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

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 company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. The trade was a 11.55 % 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 worth $6,027,619 in the last ninety days. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.