Uber Technologies (NYSE:UBER) Price Target Increased to $84.00 by Analysts at Loop Capital

Uber Technologies (NYSE:UBER) had its price target increased by Loop Capital from $83.00 to $84.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the ride-sharing company’s stock.

UBER has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $80.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on Uber Technologies from $91.00 to $97.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Wedbush reissued an outperform rating and set a $85.00 target price on shares of Uber Technologies in a research report on Wednesday, May 8th. Evercore ISI raised their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Finally, DA Davidson lifted their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $87.60.

Uber Technologies Stock Performance

NYSE:UBER opened at $69.60 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $146.23 billion, a price-to-earnings ratio of 112.26, a PEG ratio of 1.28 and a beta of 1.33. Uber Technologies has a 1 year low of $40.09 and a 1 year high of $82.14. The stock’s 50 day simple moving average is $69.59 and its two-hundred day simple moving average is $71.32.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Uber Technologies will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealthspire Advisors LLC raised its holdings in shares of Uber Technologies by 0.6% in the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after buying an additional 151 shares during the last quarter. Covenant Asset Management LLC raised its stake in Uber Technologies by 0.3% in the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after acquiring an additional 157 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Uber Technologies by 2.9% during the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after acquiring an additional 157 shares during the period. Sivia Capital Partners LLC grew its stake in Uber Technologies by 3.3% during the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after purchasing an additional 157 shares during the last quarter. Finally, Wellington Shields Capital Management LLC increased its holdings in shares of Uber Technologies by 6.1% in the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after purchasing an additional 159 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.