Uber Technologies (NYSE:UBER) Trading 3.6% Higher – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 3.6% on Monday . The company traded as high as $78.84 and last traded at $77.27. 17,687,959 shares changed hands during trading, a decline of 42% from the average session volume of 30,249,754 shares. The stock had previously closed at $74.60.

Analysts Set New Price Targets

Several research analysts recently commented on UBER shares. Bank of America lifted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.70.

Uber Technologies Trading Up 3.2 %

The firm has a market capitalization of $167.30 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The business’s fifty day moving average is $65.56 and its 200 day moving average is $70.34. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Equities analysts predict that Uber Technologies, Inc. will post 2.4 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several institutional investors have recently added to or reduced their stakes in UBER. Norges Bank acquired a new stake in shares of Uber Technologies during the 4th quarter worth $1,467,754,000. Jennison Associates LLC lifted its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Boston Partners acquired a new stake in Uber Technologies during the fourth quarter worth about $381,057,000. Assenagon Asset Management S.A. grew its stake in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after buying an additional 5,753,637 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. bought a new position in Uber Technologies in the 4th quarter valued at about $166,072,000. 80.24% of the stock is currently owned by institutional investors.

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.