Uber Technologies (NYSE:UBER) Trading 0.7% Higher – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) was up 0.7% on Wednesday . The stock traded as high as $68.43 and last traded at $68.21. Approximately 5,125,070 shares were traded during trading, a decline of 80% from the average daily volume of 25,578,174 shares. The stock had previously closed at $67.74.

Analyst Ratings Changes

Several research firms recently weighed in on UBER. Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Thursday, October 31st. Loop Capital increased their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Seven 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Price Performance

The firm has a 50-day simple moving average of $66.02 and a two-hundred day simple moving average of $70.29. The company has a market capitalization of $144.42 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

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

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kieckhefer Group LLC purchased a new position in shares of Uber Technologies in the fourth quarter valued at approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in Uber Technologies in the 4th quarter valued at $35,000. Financial Management Professionals Inc. lifted its holdings in Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in Uber Technologies by 3,928.6% during the 3rd quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 550 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Uber Technologies during the fourth quarter worth $42,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.