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

Uber Technologies, Inc. (NYSE:UBER) shares gapped down prior to trading on Thursday . The stock had previously closed at $66.75, but opened at $63.42. Uber Technologies shares last traded at $66.55, with a volume of 7,008,718 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, October 31st. Tigress Financial raised their target price on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Evercore ISI raised their price objective on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp cut their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Trading Down 0.2 %

The stock has a market cap of $140.24 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50 day moving average of $65.77 and a two-hundred day moving average of $70.17.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts anticipate that Uber Technologies, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated 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 directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was 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 accessible through the SEC website. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Jennison Associates LLC lifted its position in shares of Uber Technologies by 36.9% during the fourth 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. Assenagon Asset Management S.A. increased its position in shares of Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of Uber Technologies in the fourth quarter valued at $166,072,000. Edgewood Management LLC boosted its holdings in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in Uber Technologies during the 3rd quarter worth $163,468,000. 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.