Uber Technologies (NYSE:UBER) Stock Price Up 0.1% – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 0.1% during trading on Thursday . The stock traded as high as $72.70 and last traded at $71.62. 12,967,786 shares were traded during mid-day trading, a decline of 29% from the average session volume of 18,280,848 shares. The stock had previously closed at $71.56.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price objective on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. DA Davidson raised their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Raymond James initiated coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50-day moving average is $75.45 and its two-hundred day moving average is $71.20. The stock has a market cap of $150.81 billion, a PE ratio of 35.63, a PEG ratio of 0.91 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UBER. GHP Investment Advisors Inc. lifted its position in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the period. WR Wealth Planners LLC grew its position in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the last quarter. MCF Advisors LLC raised its position in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after buying an additional 405 shares during the last quarter. Founders Capital Management acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $33,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Uber Technologies in the second quarter valued at about $36,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.