Uber Technologies (NYSE:UBER) Shares Gap Down – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares gapped down prior to trading on Wednesday . The stock had previously closed at $69.75, but opened at $66.50. Uber Technologies shares last traded at $65.19, with a volume of 13,560,155 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on UBER. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, October 31st. Citigroup reduced their price target on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI dropped their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Daiwa Capital Markets downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Uber Technologies Price Performance

The company’s fifty day moving average price is $65.31 and its two-hundred day moving average price is $70.07. 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 cap of $148.57 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 0.77 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. On average, equities research analysts forecast that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co increased its holdings in Uber Technologies by 12.3% in the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after purchasing an additional 127 shares during the period. Procyon Advisors LLC grew its position in shares of Uber Technologies by 2.1% in the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after buying an additional 131 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of Uber Technologies by 21.4% in the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after buying an additional 145 shares during the period. Welch & Forbes LLC raised its position in shares of Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after acquiring an additional 148 shares during the last quarter. Finally, Jmac Enterprises LLC boosted its holdings in Uber Technologies by 2.1% in the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after acquiring an additional 150 shares during the last quarter. Institutional investors 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.