Uber Technologies (NYSE:UBER) Trading Up 0.3% on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) traded up 0.3% during trading on Thursday after Truist Financial raised their price target on the stock from $90.00 to $92.00. Truist Financial currently has a buy rating on the stock. Uber Technologies traded as high as $77.22 and last traded at $76.74. 3,991,933 shares traded hands during trading, a decline of 79% from the average session volume of 19,396,282 shares. The stock had previously closed at $76.48.

Other research analysts have also recently issued research reports about the stock. UBS Group restated a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a research note on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. Citigroup dropped their price objective on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Wolfe Research raised their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors boosted its position in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Norges Bank bought a new stake in shares of Uber Technologies during the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC raised its stake in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $381,057,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after buying an additional 5,753,637 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $70.35 and its two-hundred day moving average is $71.60. The firm has a market capitalization of $160.46 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.