Uber Technologies (NYSE:UBER) Stock Price Up 3.5% Following Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 3.5% during mid-day trading 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 traded hands during trading, a decline of 41% from the average session volume of 21,903,723 shares. The stock had previously closed at $64.59.

Other equities research analysts have also recently issued reports about the company. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Tigress Financial lifted their price target on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, UBS Group increased their price objective on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a report on Friday, October 18th. Seven equities 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently bought and sold shares of UBER. GHP Investment Advisors Inc. grew its position in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. grew 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 buying an additional 252 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in Uber Technologies during the 2nd quarter worth $36,000. Transcendent Capital Group LLC lifted its holdings in shares of Uber Technologies by 3,928.6% during the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 550 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Uber Technologies by 84.7% in the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock valued at $45,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

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 company’s 50 day moving average is $67.75 and its 200 day moving average is $70.66. The firm has a market capitalization of $139.33 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 0.75 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced 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. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

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.