Uber Technologies (NYSE:UBER) Stock Price Up 4.7% After Better-Than-Expected Earnings

Shares of Uber Technologies, Inc. (NYSE:UBER) rose 4.7% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $68.34 and last traded at $67.93. Approximately 10,146,079 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 19,162,129 shares. The stock had previously closed at $64.87.

The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday. UBS Group dropped their price objective on Uber Technologies from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. DA Davidson upped their price objective on Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America dropped their price objective on Uber Technologies from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Melius Research began coverage on Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC boosted its position in Uber Technologies by 374.6% during the 1st quarter. PFG Investments LLC now owns 63,450 shares of the ride-sharing company’s stock valued at $4,885,000 after acquiring an additional 50,080 shares in the last quarter. US Bancorp DE boosted its position in shares of Uber Technologies by 2.5% in the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock worth $61,310,000 after purchasing an additional 24,059 shares in the last quarter. SVB Wealth LLC boosted its position in shares of Uber Technologies by 28.1% in the 4th quarter. SVB Wealth LLC now owns 51,341 shares of the ride-sharing company’s stock worth $3,161,000 after purchasing an additional 11,269 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Uber Technologies in the 4th quarter worth $7,659,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Uber Technologies by 70.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock worth $959,000 after purchasing an additional 6,426 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. The stock has a market cap of $141.86 billion, a price-to-earnings ratio of 109.56, a PEG ratio of 1.32 and a beta of 1.36. The stock has a 50-day moving average price of $68.28 and a two-hundred day moving average price of $70.98.

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.