[By Grace Carli]
Uber Technologies (NYSE:UBER) had its price target boosted by Citigroup from $45.00 to $46.00 in a research report released on Tuesday, The Fly reports. Citigroup currently has a buy rating on the ride-sharing company’s stock.
A number of other analysts have also recently weighed in on the company. MKM Partners increased their price objective on Uber Technologies to $34.00 in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on Uber Technologies from $62.00 to $64.00 and gave the stock an outperform rating in a research report on Tuesday, November 5th. Stifel Nicolaus raised Uber Technologies from a hold rating to a buy rating and set a $34.00 target price for the company in a research note on Friday, November 22nd. JMP Securities reissued an outperform rating on shares of Uber Technologies in a research note on Tuesday, August 13th. Finally, SunTrust Banks reissued a buy rating and set a $56.00 target price on shares of Uber Technologies in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Uber Technologies presently has an average rating of Buy and a consensus price target of $48.95.
Uber Technologies stock opened at $28.69 on Tuesday. Uber Technologies has a twelve month low of $25.58 and a twelve month high of $47.08. The stock has a 50 day moving average of $29.22 and a two-hundred day moving average of $35.75. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.46.
Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Monday, November 4th. The ride-sharing company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.15. Uber Technologies had a negative return on equity of 209.48% and a negative net margin of 63.57%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.68 billion. The firm’s revenue was up 29.5% compared to the same quarter last year. Analysts predict that Uber Technologies will post -6.91 earnings per share for the current fiscal year.
In related news, CEO Dara Khosrowshahi purchased 250,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average price of $26.75 per share, with a total value of $6,687,500.00. Following the completion of the transaction, the chief executive officer now owns 1,530,939 shares of the company’s stock, valued at approximately $40,952,618.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Manik Gupta sold 15,188 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.01, for a total value of $410,227.88. Insiders sold a total of 50,373,570 shares of company stock valued at $1,389,269,961 over the last ninety days.
A number of institutional investors have recently added to or reduced their stakes in the business. SB Investment Advisers UK Ltd. purchased a new position in Uber Technologies during the second quarter worth $10,306,943,000. BlackRock Inc. purchased a new position in Uber Technologies during the second quarter worth $1,020,876,000. Dragoneer Investment Group LLC purchased a new position in Uber Technologies during the second quarter worth $986,048,000. Morgan Stanley purchased a new position in Uber Technologies during the second quarter worth $960,067,000. Finally, ICONIQ Capital LLC increased its position in Uber Technologies by 26.7% during the third quarter. ICONIQ Capital LLC now owns 20,143,943 shares of the ride-sharing company’s stock worth $613,786,000 after buying an additional 4,247,004 shares in the last quarter. 45.02% of the stock is owned by institutional investors.
Uber Technologies Company Profile
Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.