Uber Technologies (NYSE:UBER) Given New $96.00 Price Target at Bank of America

Uber Technologies (NYSE:UBER - Free Report) had its price objective upped by Bank of America from $88.00 to $96.00 in a research note issued to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the ride-sharing company's stock.

A number of other brokerages have also recently commented on UBER. TD Cowen raised their price objective on Uber Technologies from $88.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Melius Research began coverage on Uber Technologies in a research report on Monday, July 22nd. They set a "hold" rating and a $77.00 target price on the stock. Citigroup lifted their target price on Uber Technologies from $96.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Loop Capital lifted their target price on Uber Technologies from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI lifted their target price on Uber Technologies from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.86.

Uber Technologies Stock Down 0.7 %

Uber Technologies stock traded down $0.58 during mid-day trading on Wednesday, reaching $79.83. The stock had a trading volume of 8,521,575 shares, compared to its average volume of 17,929,461. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies has a fifty-two week low of $40.09 and a fifty-two week high of $87.00. The stock's 50-day simple moving average is $74.71 and its 200-day simple moving average is $70.69. The firm has a market capitalization of $166.81 billion, a PE ratio of 129.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm had revenue of $10.70 billion during the quarter, compared to analysts' expectations of $10.57 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 40,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Price T Rowe Associates Inc. MD grew its position in Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company's stock worth $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company's stock worth $1,726,381,000 after purchasing an additional 9,541,366 shares in the last quarter. Allen Investment Management LLC boosted its holdings in shares of Uber Technologies by 2,956.5% in the 1st quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company's stock worth $410,995,000 after purchasing an additional 5,163,635 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company's stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company's stock worth $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. 80.24% of the stock is currently 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.