Uber Technologies (NYSE:UBER) Reaches New 12-Month High After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) shares hit a new 52-week high during trading on Wednesday after Loop Capital raised their price target on the stock from $89.00 to $105.00. Loop Capital currently has a buy rating on the stock. Uber Technologies traded as high as $93.60 and last traded at $91.84, with a volume of 20827552 shares traded. The stock had previously closed at $92.46.

Several other research analysts have also recently issued reports on the company. Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $85.00 in a research note on Thursday, May 8th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Finally, TD Cowen decreased their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.69.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,788 shares of company stock valued at $6,517,070. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after acquiring an additional 1,663 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Uber Technologies in the fourth quarter valued at $3,188,000. Clark Capital Management Group Inc. lifted its position in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after purchasing an additional 399,008 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of Uber Technologies by 1,705.2% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock valued at $3,414,000 after acquiring an additional 53,457 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its holdings in Uber Technologies by 6.4% during the fourth quarter. Greenwood Capital Associates LLC now owns 84,658 shares of the ride-sharing company’s stock worth $5,107,000 after acquiring an additional 5,095 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 0.8%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a 50-day moving average of $77.85 and a 200 day moving average of $72.43. The stock has a market capitalization of $183.86 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) EPS. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.