Uber Technologies (NYSE:UBER) Trading 1.6% Higher – Here’s Why

by · The Markets Daily

Uber Technologies, Inc. (NYSE:UBER – Get Free Report)’s stock price was up 1.6% during mid-day trading on Thursday . The stock traded as high as $85.75 and last traded at $85.47. Approximately 22,641,663 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 20,634,525 shares. The stock had previously closed at $84.16.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UBER. Needham & Company LLC reiterated a “buy” rating and issued a $109.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Mizuho began coverage on shares of Uber Technologies in a research note on Monday, September 29th. They set an “outperform” rating and a $130.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a report on Monday. Cantor Fitzgerald increased their price objective on shares of Uber Technologies from $107.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, BMO Capital Markets decreased their target price on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Get Our Latest Research Report on UBER

Uber Technologies Stock Up 1.6%

The business has a 50-day moving average price of $92.23 and a 200-day moving average price of $91.82. The stock has a market cap of $177.59 billion, a PE ratio of 10.99 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tony West sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the transaction, the insider owned 174,135 shares in the company, valued at $16,037,833.50. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer directly owned 20,330 shares in the company, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 567,625 shares of company stock worth $55,385,660. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Brant Point Investment Management LLC purchased a new position in Uber Technologies in the second quarter worth approximately $933,000. Prudential PLC lifted its stake in shares of Uber Technologies by 15.7% in the 2nd quarter. Prudential PLC now owns 216,855 shares of the ride-sharing company’s stock valued at $20,233,000 after purchasing an additional 29,359 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Uber Technologies by 1.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 2,082,067 shares of the ride-sharing company’s stock worth $194,257,000 after purchasing an additional 35,418 shares during the period. M&T Bank Corp increased its position in shares of Uber Technologies by 13.9% during the 2nd quarter. M&T Bank Corp now owns 426,163 shares of the ride-sharing company’s stock worth $39,761,000 after purchasing an additional 52,002 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in Uber Technologies in the 2nd quarter valued at about $96,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

(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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