Uber Technologies (NYSE:UBER) Shares Up 3.5% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price traded up 3.5% during mid-day trading on Thursday . The stock traded as high as $63.09 and last traded at $62.44. 8,193,454 shares were traded during mid-day trading, a decline of 57% from the average session volume of 19,204,439 shares. The stock had previously closed at $60.32.

Analysts Set New Price Targets

A number of research analysts have weighed in on UBER shares. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, November 1st. JMP Securities lowered shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research report on Thursday. Jefferies Financial Group raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group increased their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company decreased their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.47.

Uber Technologies Price Performance

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 stock has a 50 day moving average of $68.54 and a 200-day moving average of $70.78. The company has a market cap of $131.42 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Equities analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after acquiring an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its position in Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after acquiring an additional 237,976 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after acquiring an additional 1,601,747 shares during the last quarter. Hedge funds and other 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.