Citigroup Increases Uber Technologies (NYSE:UBER) Price Target to $93.00

Uber Technologies (NYSE:UBER) had its price objective upped by equities researchers at Citigroup from $91.00 to $93.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the ride-sharing company’s stock. Citigroup’s price target would indicate a potential upside of 36.93% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler raised their price objective on shares of Uber Technologies from $78.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Truist Financial raised their price objective on shares of Uber Technologies from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. JMP Securities reiterated a “market outperform” rating and set a $85.00 price objective on shares of Uber Technologies in a research note on Thursday, March 28th. TD Cowen lowered their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, KeyCorp raised their target price on shares of Uber Technologies from $79.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.44.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded up $1.52 during trading hours on Thursday, hitting $67.92. The stock had a trading volume of 21,214,093 shares, compared to its average volume of 20,550,176. The stock’s fifty day simple moving average is $74.80 and its 200 day simple moving average is $65.83. Uber Technologies has a 1-year low of $37.07 and a 1-year high of $82.14. The firm has a market capitalization of $141.37 billion, a price-to-earnings ratio of 78.98, a PEG ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Uber Technologies will post 1.23 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the sale, the insider now directly owns 185,566 shares in the company, valued at approximately $13,004,465.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the transaction, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now directly owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of UBER. Vanguard Group Inc. raised its stake in shares of Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after acquiring an additional 43,275,830 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at approximately $1,415,778,000. Edgewood Management LLC acquired a new position in Uber Technologies in the fourth quarter valued at approximately $783,401,000. Capital Research Global Investors lifted its holdings in Uber Technologies by 28.4% in the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after buying an additional 8,164,816 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in Uber Technologies in the third quarter valued at approximately $272,625,000. 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.