Uber Technologies (NYSE:UBER) Trading Up 1.2% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price rose 1.2% during trading on Monday . The company traded as high as $61.77 and last traded at $61.43. Approximately 4,473,467 shares changed hands during trading, a decline of 77% from the average daily volume of 19,275,576 shares. The stock had previously closed at $60.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Stock Down 0.3 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $71.29 and a two-hundred day simple moving average of $71.24. The company has a market capitalization of $129.94 billion, a PE ratio of 30.70, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. Research analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBER. 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 buying an additional 245 shares in the last quarter. WR Wealth Planners LLC boosted its position in shares of Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Uber Technologies in the second quarter valued at about $36,000. Finally, Financial Management Professionals Inc. boosted its holdings in Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds 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.