KeyCorp Lowers Uber Technologies (NYSE:UBER) Price Target to $80.00

Uber Technologies (NYSE:UBER) had its target price cut by stock analysts at KeyCorp from $85.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the ride-sharing company’s stock. KeyCorp’s price target would suggest a potential upside of 9.59% from the stock’s previous close.

Several other analysts have also recently issued reports on UBER. KGI Securities reaffirmed a “neutral” rating and set a $78.00 price objective on shares of Uber Technologies in a report on Tuesday, March 11th. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. Truist Financial upped their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, DA Davidson cut their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $89.81.

Uber Technologies Trading Down 1.4 %

UBER stock opened at $73.00 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00. The business has a 50 day simple moving average of $74.16 and a two-hundred day simple moving average of $71.45. The company has a market capitalization of $152.70 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Research analysts anticipate that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 23,404 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the transaction, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,154 shares of company stock worth $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dover Advisors LLC increased its position in shares of Uber Technologies by 21.6% during the first quarter. Dover Advisors LLC now owns 26,654 shares of the ride-sharing company’s stock worth $1,942,000 after purchasing an additional 4,737 shares in the last quarter. Everpar Advisors LLC increased its position in Uber Technologies by 2.7% during the 1st quarter. Everpar Advisors LLC now owns 7,208 shares of the ride-sharing company’s stock valued at $525,000 after buying an additional 191 shares in the last quarter. Hoey Investments Inc. raised its stake in Uber Technologies by 4.2% in the first quarter. Hoey Investments Inc. now owns 69,045 shares of the ride-sharing company’s stock valued at $5,031,000 after buying an additional 2,782 shares during the last quarter. Avaii Wealth Management LLC boosted its holdings in Uber Technologies by 5.3% in the first quarter. Avaii Wealth Management LLC now owns 7,014 shares of the ride-sharing company’s stock worth $511,000 after acquiring an additional 351 shares in the last quarter. Finally, CRA Financial Services LLC grew its stake in shares of Uber Technologies by 67.9% during the first quarter. CRA Financial Services LLC now owns 6,288 shares of the ride-sharing company’s stock worth $458,000 after acquiring an additional 2,542 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.