Macquarie Reiterates “$51.00” Price Target for Uber Technologies (NYSE:UBER)
Uber Technologies (NYSE:UBER) has been given a $51.00 price objective by equities research analysts at Macquarie in a research report issued to clients and investors on Tuesday, TipRanks reports. The brokerage presently has a “buy” rating on the ride-sharing company’s stock. Macquarie’s price objective would suggest a potential upside of 50.00% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Northcoast Research began coverage on shares of Uber Technologies in a research note on Thursday, June 20th. They issued a “neutral” rating for the company. Cowen lifted their price target on shares of Uber Technologies from $58.00 to $60.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Stifel Nicolaus assumed coverage on Uber Technologies in a report on Tuesday, July 2nd. They issued a “hold” rating and a $50.00 price objective on the stock. Canaccord Genuity assumed coverage on Uber Technologies in a research report on Tuesday, June 4th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Barclays assumed coverage on Uber Technologies in a research note on Tuesday, June 4th. They set an “overweight” rating and a $50.00 target price for the company. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Uber Technologies has an average rating of “Buy” and a consensus target price of $53.86.
Shares of NYSE UBER traded up $0.49 during trading on Tuesday, hitting $34.00. 14,620,946 shares of the company were exchanged, compared to its average volume of 13,152,968. The company’s fifty day moving average is $36.63. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.36. Uber Technologies has a 12-month low of $30.67 and a 12-month high of $47.08.
A number of institutional investors and hedge funds have recently bought and sold shares of UBER. River & Mercantile Asset Management LLP acquired a new position in Uber Technologies in the 2nd quarter valued at about $3,466,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Uber Technologies during the second quarter worth about $1,658,000. Rehmann Capital Advisory Group acquired a new stake in shares of Uber Technologies during the second quarter worth about $76,000. Atria Investments LLC purchased a new position in shares of Uber Technologies in the second quarter valued at approximately $356,000. Finally, Treasurer of the State of North Carolina purchased a new position in shares of Uber Technologies in the second quarter valued at approximately $5,233,000. 45.32% of the stock is currently owned by hedge funds and other 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.
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