Uber Technologies (NYSE:UBER) Shares Up 1% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shot up 1% during trading on Friday . The stock traded as high as $60.89 and last traded at $60.79. 6,650,856 shares were traded during mid-day trading, a decline of 65% from the average session volume of 19,254,332 shares. The stock had previously closed at $60.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UBER shares. KeyCorp decreased their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $95.00 price objective on shares of Uber Technologies in a report on Wednesday, December 4th. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Trading Up 0.8 %

The business has a 50-day moving average of $72.26 and a 200-day moving average of $71.22. The stock has a market capitalization of $127.86 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

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

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. increased its position in Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 245 shares in the last quarter. WR Wealth Planners LLC increased its position in 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 raised its stake in 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 during the last quarter. Fairfield Financial Advisors LTD purchased a new position in Uber Technologies in the 2nd quarter valued at about $36,000. Finally, Financial Management Professionals Inc. boosted its stake in shares of Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

About Uber Technologies

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.