DA Davidson Boosts Uber Technologies (NYSE:UBER) Price Target to $98.00

Uber Technologies (NYSE:UBER) had its price objective lifted by investment analysts at DA Davidson from $80.00 to $98.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the ride-sharing company’s stock. DA Davidson’s price target suggests a potential upside of 18.64% from the company’s previous close.

Several other equities analysts have also recently weighed in on UBER. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price target on shares of Uber Technologies in a report on Monday, May 5th. Arete Research raised shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. KeyCorp reduced their target price on shares of Uber Technologies from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday. Eleven investment 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. According to MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $92.69.

Uber Technologies Stock Performance

NYSE:UBER 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 $71.59. The stock has a market capitalization of $172.78 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.89 and a beta of 1.43. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

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

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,904 shares of company stock valued at $6,027,619. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in Uber Technologies during the 4th quarter valued at approximately $1,467,754,000. Jennison Associates LLC raised its holdings in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Boston Partners acquired a new position in Uber Technologies during the fourth quarter valued at $381,057,000. Finally, Pacer Advisors Inc. boosted its holdings in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 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.