Uber Technologies (NYSE:UBER) Trading Up 3.5% on Analyst Upgrade

by · The Cerbat Gem

Uber Technologies, Inc. (NYSE:UBER – Get Free Report)’s share price shot up 3.5% on Monday after Wolfe Research raised their price target on the stock from $90.00 to $92.00. Wolfe Research currently has an outperform rating on the stock. Uber Technologies traded as high as $67.35 and last traded at $66.87. 12,943,129 shares were traded during trading, a decline of 41% from the average session volume of 21,903,723 shares. The stock had previously closed at $64.59.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company cut their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Raymond James began coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target on the stock. Truist Financial decreased their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.53.

Get Our Latest Stock Report on UBER

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s 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 completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its holdings 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 during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Fairfield Financial Advisors LTD bought a new position in Uber Technologies in the 2nd quarter valued at about $36,000. 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 valued at $42,000 after purchasing an additional 550 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Uber Technologies by 84.7% during the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 276 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Down 0.2 %

The stock has a market capitalization of $139.33 billion, a PE ratio of 32.92, a P/E/G ratio of 0.75 and a beta of 1.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $67.75 and a 200 day moving average price of $70.66.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating 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 business had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the business earned $0.10 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

About Uber Technologies

(Get Free Report)

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.

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