Uber Technologies (NYSE:UBER) Trading Down 2.1% – What’s Next?

Shares of Uber Technologies, Inc. (NYSE:UBER) were down 2.1% on Tuesday . The stock traded as low as $82.65 and last traded at $83.15. Approximately 4,509,070 shares were traded during trading, a decline of 75% from the average daily volume of 17,994,430 shares. The stock had previously closed at $84.94.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UBER shares. TD Cowen increased their target price on Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Loop Capital increased their price objective on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Melius Research started coverage on Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Piper Sandler increased their price objective on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group increased their price objective on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four research 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. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $88.11.

Uber Technologies Stock Down 1.8 %

The company has a market capitalization of $174.25 billion, a PE ratio of 134.90, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The company has a 50-day moving average of $73.18 and a two-hundred day moving average of $70.51.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Uber Technologies, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in UBER. Integrated Advisors Network LLC increased its stake in Uber Technologies by 18.6% during the fourth quarter. Integrated Advisors Network LLC now owns 10,375 shares of the ride-sharing company’s stock worth $639,000 after acquiring an additional 1,629 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Uber Technologies by 16.6% during the fourth quarter. EP Wealth Advisors LLC now owns 20,354 shares of the ride-sharing company’s stock worth $1,253,000 after acquiring an additional 2,904 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Uber Technologies during the fourth quarter worth approximately $84,000. PNC Financial Services Group Inc. increased its stake in Uber Technologies by 130.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 145,061 shares of the ride-sharing company’s stock worth $8,931,000 after acquiring an additional 82,002 shares during the last quarter. Finally, Moseley Investment Management Inc. bought a new position in shares of Uber Technologies during the first quarter valued at approximately $204,000. 80.24% of the stock is owned by 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.