Uber Technologies (NYSE:UBER) Stock Price Up 0.3% After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) shares rose 0.3% on Tuesday after Cantor Fitzgerald raised their price target on the stock from $75.00 to $80.00. Cantor Fitzgerald currently has an overweight rating on the stock. Uber Technologies traded as high as $69.03 and last traded at $68.98. Approximately 5,492,259 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 23,621,645 shares. The stock had previously closed at $68.77.

Several other brokerages have also issued reports on UBER. Evercore ISI lifted their price target on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JMP Securities lowered 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 research note on Thursday, January 2nd. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Piper Sandler lowered their target price on shares of Uber Technologies from $98.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.08.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after acquiring an additional 893,652 shares during the period. Edgewood Management LLC increased its position in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Jennison Associates LLC raised its stake in Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Janus Henderson Group PLC lifted its position in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after purchasing an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after buying an additional 1,601,747 shares during the period. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 0.4 %

The firm’s 50-day moving average price is $65.86 and its 200 day moving average price is $70.26. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $145.37 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 1.86 EPS for the current fiscal year.

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.