Uber Technologies (NYSE:UBER) Trading Up 3.2% – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER) shares traded up 3.2% on Wednesday . The company traded as high as $67.25 and last traded at $66.89. 6,210,656 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 25,911,826 shares. The stock had previously closed at $64.84.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. JMP Securities cut shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Thursday, January 2nd. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 31st. KeyCorp dropped their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Bank of America upped their target price on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, thirty-one have given 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 $91.53.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $141.71 billion, a PE ratio of 33.48, a P/E/G ratio of 0.71 and a beta of 1.36. The company has a 50-day moving average price of $66.34 and a two-hundred day moving average price of $70.39.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the previous year, the business earned $0.10 EPS. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Uber Technologies, Inc. will post 1.9 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after buying an additional 5,753,637 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after buying an additional 3,179,308 shares in the last quarter. Edgewood Management LLC increased its position in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new stake in Uber Technologies during the 3rd quarter valued at $163,468,000. Finally, Nordea Investment Management AB increased its holdings in shares of Uber Technologies by 1,370.1% during the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after purchasing an additional 2,064,382 shares during the period. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.