Uber Technologies (NYSE: UBER – Get a Rating) had its price target reduced by Wedbush investment analysts from $48.00 to $38.00 in a research note released Thursday, reports The Fly. Wedbush’s target price suggests a potential upside of 35.23% from the current share price.
A number of other brokerages also commented on UBER. Deutsche Bank Aktiengesellschaft launched coverage on Uber Technologies in a research report on Friday, March 11. They issued a “buy” rating and a price target of $50.00 on the stock. JMP Securities lowered its target price on Uber Technologies from $80.00 to $69.00 and set an “outperform” rating for the company in a Thursday, Feb. 10 report. KeyCorp cut its price target on Uber Technologies from $75.00 to $65.00 and set an “overweight” rating for the company in a Thursday, Jan. 20, report. DA Davidson cut its price target on Uber Technologies from $68.00 to $62.00 and set a “buy” rating for the company in a Thursday, February 10 report. Finally, Loop Capital cut its price target on Uber Technologies from $70.00 to $55.00 and set a “buy” rating for the company in a Friday, March 11 report. One research analyst gave the stock a hold rating and twenty-eight issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $59.00.
NYSE UBER shares opened at $28.10 on Thursday. The company’s 50-day moving average price is $32.61 and its two-hundred-day moving average price is $37.80. The company has a debt ratio of 0.61, a current ratio of 0.98 and a quick ratio of 0.98. Uber Technologies has a 1-year low of $25.90 and a 1-year high of $54.07. The company has a market capitalization of $54.93 billion, a P/E ratio of -87.81 and a beta of 1.30.
Uber Technologies (NYSE:UBER – Get Rating) last released its quarterly results on Wednesday, February 9. The ride-hailing company reported earnings per share (EPS) of $0.44 for the quarter, beating the consensus estimate of ($0.33) by $0.77. Uber Technologies posted a positive return on equity of 3.90% and a negative net margin of 2.84%. The company posted revenue of $5.78 billion in the quarter, versus a consensus estimate of $5.39 billion. On average, stock analysts expect Uber Technologies to post -0.76 EPS for the current year.
Several institutional investors have recently increased or reduced their stake in the stock. Fisher Asset Management LLC acquired a new position in Uber Technologies in the fourth quarter worth approximately $635,212,000. Norges Bank bought a new stake in shares of Uber Technologies during the fourth quarter for a value of approximately $594,489,000. Jennison Associates LLC increased its position in Uber Technologies shares by 23.6% during the fourth quarter. Jennison Associates LLC now owns 49,538,244 shares of the ride-hailing company worth $2,077,139,000 after purchasing an additional 9,449,743 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Uber Technologies during the third quarter for a value of approximately $286,355,000. Finally, Renaissance Technologies LLC increased its stake in Uber Technologies by 6,009.3% in the third quarter. Renaissance Technologies LLC now owns 4,820,200 shares of the ride-sharing company valued at $215,945,000 after purchasing an additional 4,741,300 shares last quarter. 72.58% of the shares are held by hedge funds and other institutional investors.
Uber Technologies Company Profile (Get an evaluation)
Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa and Asia-Pacific. It connects consumers with independent transportation service providers for ride-sharing services; and connects passengers and other consumers at restaurants, grocery stores and other stores with delivery service providers for meal preparation, groceries and other delivery services.
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