Uber Technologies (NYSE:UBER) Trading 0.9% Higher – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price shot up 0.9% during trading on Friday . The company traded as high as $72.44 and last traded at $72.29. 2,572,830 shares were traded during trading, a decline of 86% from the average session volume of 18,211,082 shares. The stock had previously closed at $71.62.

Analysts Set New Price Targets

UBER has been the subject of a number of analyst reports. UBS Group upped their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. JMP Securities lifted their price target on shares of Uber Technologies from $80.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Tigress Financial lifted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Stock Up 0.5 %

The company has a market cap of $151.53 billion, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The stock has a 50-day simple moving average of $75.34 and a 200-day simple moving average of $71.29. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Uber Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after purchasing an additional 893,652 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Uber Technologies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after acquiring an additional 237,976 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after acquiring an additional 1,601,747 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.