Uber Technologies (NYSE:UBER) Stock Price Up 2.1% After Analyst Upgrade

by · The Cerbat Gem

Uber Technologies, Inc. (NYSE:UBER – Get Free Report) rose 2.1% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $88.00 to $99.00. Truist Financial currently has a buy rating on the stock. Uber Technologies traded as high as $77.02 and last traded at $76.19. Approximately 3,477,049 shares were traded during trading, a decline of 80% from the average daily volume of 17,823,359 shares. The stock had previously closed at $74.59.

Other analysts have also issued research reports about the stock. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Tuesday, July 30th. Oppenheimer increased their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Piper Sandler increased their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 25th. Citigroup increased their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research started coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.11.

Check Out Our Latest Stock Analysis on Uber Technologies

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of UBER. GHP Investment Advisors Inc. increased its stake in 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 in the last quarter. Financial Management Professionals Inc. increased its stake in Uber Technologies by 111.6% in the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. WR Wealth Planners LLC increased its stake in Uber Technologies by 563.9% in the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Uber Technologies in the first quarter valued at $32,000. Finally, MCF Advisors LLC increased its position in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Uber Technologies Trading Up 2.2 %

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $71.50 and its 200 day moving average price is $70.41. The company has a market capitalization of $163.54 billion, a P/E ratio of 125.55, a P/E/G ratio of 1.34 and a beta of 1.33.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, equities research analysts predict that Uber Technologies, Inc. will post 1.04 earnings per share for the current year.

Uber Technologies Company Profile

(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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