Uber Technologies (NYSE:UBER) Trading 1.2% Higher – Here’s Why

by · The Cerbat Gem

Shares of Uber Technologies, Inc. (NYSE:UBER – Get Free Report) shot up 1.2% during trading on Monday . The stock traded as high as $92.78 and last traded at $92.4240. 12,155,905 shares traded hands during trading, a decline of 41% from the average session volume of 20,521,064 shares. The stock had previously closed at $91.32.

Analyst Ratings Changes

A number of equities analysts have weighed in on UBER shares. BMO Capital Markets cut their price target on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Erste Group Bank lowered Uber Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a report on Monday, December 1st. Susquehanna restated a “positive” rating and set a $110.00 price target on shares of Uber Technologies in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company cut their price objective on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.60.

Check Out Our Latest Report on Uber Technologies

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a fifty day simple moving average of $92.80 and a two-hundred day simple moving average of $91.84. The stock has a market cap of $192.04 billion, a PE ratio of 11.88 and a beta of 1.19.

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

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 567,625 shares of company stock worth $55,385,660 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC bought a new stake in shares of Uber Technologies in the third quarter worth $25,000. Westend Capital Management LLC acquired a new position in Uber Technologies during the 3rd quarter worth $27,000. Kilter Group LLC acquired a new position in Uber Technologies during the 2nd quarter worth $26,000. West Oak Capital LLC bought a new stake in shares of Uber Technologies in the 2nd quarter worth about $28,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at about $30,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

About Uber Technologies

(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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