Uber Technologies (NYSE:UBER) Trading 3% Higher – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER)’s stock price was up 3% on Thursday . The company traded as high as $75.54 and last traded at $75.25. 5,098,070 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 19,501,073 shares. The stock had previously closed at $73.02.

Analysts Set New Price Targets

A number of research firms recently issued reports on UBER. Royal Bank of Canada restated an “outperform” rating and set a $82.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Wolfe Research increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler reissued an “overweight” rating and issued a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Truist Financial boosted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Fox Advisors downgraded shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Price Performance

The stock has a market cap of $155.04 billion, a PE ratio of 16.33, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business has a fifty day moving average of $72.25 and a 200 day moving average of $71.56.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the sale, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,404 shares of company stock worth $5,587,619 over the last 90 days. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after purchasing an additional 2,364,525 shares during the period. Capital Research Global Investors boosted its position in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the period. Geode Capital Management LLC grew its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after buying an additional 1,061,088 shares in the last quarter. Capital World Investors raised its position in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after buying an additional 2,792,039 shares during the period. Finally, Edgewood Management LLC lifted its stake in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares in the last quarter. 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.