Wells Fargo & Company Lowers Uber Technologies (NYSE:UBER) Price Target to $120.00

Uber Technologies (NYSE:UBER) had its price target decreased by investment analysts at Wells Fargo & Company from $125.00 to $120.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the ride-sharing company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 27.78% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of Uber Technologies in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. DA Davidson raised their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.71.

Uber Technologies Stock Performance

Uber Technologies stock traded down $0.76 during midday trading on Wednesday, reaching $93.91. 4,087,860 shares of the company traded hands, compared to its average volume of 20,675,514. The firm has a market capitalization of $195.84 billion, a price-to-earnings ratio of 16.07 and a beta of 1.46. The business has a 50 day moving average of $95.62 and a two-hundred day moving average of $90.93. Uber Technologies has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 604,946 shares of company stock worth $58,950,116 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Uber Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after buying an additional 3,025,483 shares during the period. Geode Capital Management LLC boosted its position in Uber Technologies by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after buying an additional 1,168,288 shares during the period. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies in the 1st quarter valued at about $2,207,743,000. Norges Bank purchased a new stake in Uber Technologies in the 2nd quarter valued at about $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC boosted its position in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the period. 80.24% of the stock is 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.