Uber Technologies (NYSE:UBER) Price Target Cut to $80.00 by Analysts at KeyCorp

Uber Technologies (NYSE:UBER) had its price objective cut by equities research analysts at KeyCorp from $85.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the ride-sharing company’s stock. KeyCorp’s price objective would indicate a potential upside of 7.69% from the company’s current price.

A number of other equities research analysts also recently weighed in on UBER. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. Truist Financial upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Citigroup dropped their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $87.00 target price (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.81.

Uber Technologies Price Performance

NYSE:UBER opened at $74.28 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a market cap of $155.39 billion, a P/E ratio of 16.27, a PEG ratio of 0.89 and a beta of 1.37. The company has a fifty day moving average price of $74.11 and a 200 day moving average price of $71.42. Uber Technologies has a one year low of $54.84 and a one year high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently modified their holdings of UBER. Vanguard Group Inc. lifted its holdings in Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after purchasing an additional 2,364,525 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC increased its position in Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after acquiring an additional 1,061,088 shares during the period. Capital World Investors raised its stake in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. 80.24% of the stock is owned by 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.