Uber Technologies (NYSE:UBER) Trading 1.4% Higher – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) were up 1.4% on Thursday . The stock traded as high as $72.75 and last traded at $72.18. Approximately 4,697,928 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 18,092,646 shares. The stock had previously closed at $71.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on UBER shares. Truist Financial reduced their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Bank of America boosted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group lifted their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. KeyCorp cut their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Daiwa Capital Markets lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Stock Up 0.7 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $150.92 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 0.71 and a beta of 1.34. The business’s 50-day moving average is $75.40 and its 200-day moving average is $71.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its stake in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC increased its holdings in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Uber Technologies in the 1st quarter worth $32,000. MCF Advisors LLC increased its position in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 405 shares during the period. Finally, Founders Capital Management purchased a new position in Uber Technologies in the second quarter worth $33,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.