Wells Fargo & Company Lowers Uber Technologies (NYSE:UBER) Price Target to $87.00

Uber Technologies (NYSE:UBER) had its price objective dropped by analysts at Wells Fargo & Company from $90.00 to $87.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.37% from the company’s current price.

Several other analysts have also issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a report on Friday, October 11th. Evercore ISI raised their price target on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Bank of America upped their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp reduced their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Seven 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’s stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $90.19.

Uber Technologies Price Performance

NYSE UBER opened at $74.76 on Thursday. The company has a 50-day moving average price of $65.28 and a 200-day moving average price of $70.07. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $157.43 billion, a P/E ratio of 37.20, a PEG ratio of 0.77 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Equities research analysts anticipate that Uber Technologies will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Avion Wealth grew its holdings in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies in the fourth quarter valued at about $33,000. Retirement Wealth Solutions LLC purchased a new position in shares of Uber Technologies in the fourth quarter worth about $35,000. Finally, Financial Management Professionals Inc. lifted its holdings in shares of Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares during the period. 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.