Jefferies Financial Group cuts Uber Technologies (NYSE:UBER) price target to $50.00



Uber Technologies (NYSE: UBER – Get a Rating) saw its target price reduced by equity analysts at Jefferies Financial Group from $65.00 to $50.00 in a note issued to investors on Tuesday, reports The Fly. Jefferies Financial Group’s price target indicates a potential upside of 111.24% from the company’s current price.

UBER has been the subject of several other reports. Barclays cut its target price on Uber Technologies from $52.00 to $48.00 in a Thursday, May 5 report. Oppenheimer lowered his target price on Uber Technologies from $45.00 to $40.00 in a Thursday, May 5 report. William Blair reiterated an “outperforming” rating on Uber Technologies shares in a Wednesday, Feb. 9 report. Needham & Company LLC cut its price target on Uber Technologies shares from $68.00 to $50.00 in a Thursday, May 5 research note. Finally, BTIG Research cut its price target on Uber Technologies shares from $65.00 to $55.00 in a Thursday, May 5 research note. Twenty-nine investment analysts rated the stock with a buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $56.90.

Shares of Uber Technologies opened Tuesday at $23.67. The stock has a market capitalization of $46.48 billion, a PE ratio of -7.17 and a beta of 1.29. The company has a fifty-day simple moving average of $29.58 and a 200-day simple moving average of $34.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt ratio of 0.96. Uber Technologies has a 12-month low of $21.27 and a 12-month high of $52.36.

Uber Technologies (NYSE:UBER – Get Rating) last reported quarterly results on Wednesday, May 4. The rideshare company reported ($3.04) earnings per share for the quarter, missing analysts’ consensus estimate of ($0.27) by ($2.77). The company posted revenue of $6.85 billion in the quarter, versus analyst estimates of $6.10 billion. Uber Technologies posted a positive return on equity of 9.68% and a negative net margin of 29.51%. Uber Technologies’ quarterly revenue increased 136.3% year over year. During the same period of the previous year, the company achieved EPS of ($0.57). Analysts expect Uber Technologies to post -3.57 EPS for the current fiscal year.

Separately, CEO Dara Khosrowshahi acquired 200,000 shares of Uber Technologies in a transaction on Friday, May 6. The shares were acquired at an average cost of $26.73 per share, for a total transaction of $5,346,000.00. Following the purchase, the CEO now owns 1,420,968 shares of the company, valued at $37,982,474.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 3.92% of the shares are currently held by insiders of the company.

Several hedge funds have recently changed their positions in UBER. Altimeter Capital Management LP increased its stake in Uber Technologies shares by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the rideshare company worth $1,193,422,000 after acquiring an additional 19,260,000 shares during the period. Fisher Asset Management LLC bought a new position in shares of Uber Technologies in the fourth quarter for a value of approximately $635,212,000. Norges Bank bought a new position in shares of Uber Technologies in the fourth quarter for a value of approximately $594,489,000. Jennison Associates LLC increased its holdings of Uber Technologies shares 23.6% in 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. Finally, Viking Global Investors LP bought a new position in shares of Uber Technologies in the third quarter for a value of approximately $286,355,000. Hedge funds and other institutional investors own 72.58% of the company’s shares.

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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