Piper Sandler Issues Pessimistic Forecast for Uber Technologies (NYSE:UBER) Stock Price

Uber Technologies (NYSE:UBER) had its price objective lowered by Piper Sandler from $98.00 to $82.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the ride-sharing company’s stock.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research lifted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp reduced their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Truist Financial decreased their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a report on Thursday, October 17th. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $91.08.

Uber Technologies Price Performance

NYSE UBER opened at $66.59 on Tuesday. The company has a 50-day moving average price of $65.77 and a two-hundred day moving average price of $70.17. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The stock has a market cap of $140.21 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Uber Technologies will post 1.86 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new position in Uber Technologies in the 4th quarter valued at $4,136,000. Allworth Financial LP grew its position in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Uber Technologies by 39.0% in the fourth quarter. Principal Securities Inc. now owns 40,604 shares of the ride-sharing company’s stock worth $2,449,000 after purchasing an additional 11,400 shares during the period. TigerOak Management L.L.C. bought a new stake in Uber Technologies during the 4th quarter valued at approximately $1,278,000. Finally, Covenant Asset Management LLC grew its holdings in Uber Technologies by 0.4% in the 4th quarter. Covenant Asset Management LLC now owns 53,868 shares of the ride-sharing company’s stock valued at $3,249,000 after buying an additional 217 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.