Uber Technologies (NYSE:UBER) Trading Up 2.7% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price traded up 2.7% during mid-day trading on Thursday . The company traded as high as $68.87 and last traded at $68.85. 7,958,742 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 25,756,650 shares. The stock had previously closed at $67.02.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a research report on Thursday, January 2nd. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. JMP Securities downgraded Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Thursday, January 2nd. DA Davidson raised their price target on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price objective on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Stock Performance

The firm has a market cap of $141.71 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. The business’s fifty day simple moving average is $66.24 and its 200-day simple moving average is $70.37. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the business earned $0.10 EPS. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 1.9 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently bought and sold shares of the stock. Kieckhefer Group LLC bought a new position in Uber Technologies in the fourth quarter worth $33,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies in the 4th quarter worth about $35,000. Financial Management Professionals Inc. lifted its position in Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Transcendent Capital Group LLC boosted its stake in Uber Technologies by 3,928.6% during the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 550 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in Uber Technologies by 84.7% in the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 276 shares during the period. 80.24% of the stock is owned by institutional investors.

About Uber Technologies

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.