Uber Technologies (NYSE:UBER) Stock Price Up 2.4% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER)’s stock price rose 2.4% during mid-day trading on Monday . The stock traded as high as $94.31 and last traded at $94.17. Approximately 12,990,641 shares changed hands during trading, a decline of 37% from the average daily volume of 20,689,281 shares. The stock had previously closed at $91.99.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research reports. Sanford C. Bernstein increased their price target on Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen raised Uber Technologies from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson increased their target price on Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Raymond James Financial boosted their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 7th. Finally, UBS Group set a $122.00 price objective on Uber Technologies and gave the company a “buy” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Performance

The stock has a 50 day moving average of $95.46 and a 200 day moving average of $91.32. The company has a market capitalization of $195.67 billion, a price-to-earnings ratio of 12.10 and a beta of 1.46. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 604,946 shares of company stock valued at $58,950,116 over the last three months. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in UBER. Hilltop National Bank purchased a new stake in Uber Technologies in the 2nd quarter valued at $96,000. American Capital Advisory LLC boosted its holdings in Uber Technologies by 47.8% during the 2nd quarter. American Capital Advisory LLC now owns 13,006 shares of the ride-sharing company’s stock worth $1,213,000 after acquiring an additional 4,204 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Uber Technologies by 50.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 548,051 shares of the ride-sharing company’s stock worth $51,133,000 after acquiring an additional 183,085 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock valued at $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Uber Technologies by 42.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock valued at $70,822,000 after purchasing an additional 226,960 shares during the last quarter. Institutional investors and hedge funds 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.