Uber Technologies (NYSE:UBER) Trading Up 3.2% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on UBER shares. Daiwa America downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James started coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a report on Thursday, January 2nd. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Price Performance

The firm has a market capitalization of $141.71 billion, a PE ratio of 33.48, a PEG ratio of 0.71 and a beta of 1.36. The stock has a 50-day moving average price of $66.34 and a 200 day moving average price of $70.39. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 1.9 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its position in Uber Technologies by 58.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,299 shares of the ride-sharing company’s stock valued at $94,000 after purchasing an additional 477 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Uber Technologies by 13.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,798,884 shares of the ride-sharing company’s stock valued at $203,401,000 after buying an additional 341,312 shares during the last quarter. One Capital Management LLC boosted its stake in shares of Uber Technologies by 26.2% during the second quarter. One Capital Management LLC now owns 3,489 shares of the ride-sharing company’s stock worth $254,000 after buying an additional 725 shares during the period. Stock Yards Bank & Trust Co. grew its holdings in shares of Uber Technologies by 9.3% during the second quarter. Stock Yards Bank & Trust Co. now owns 3,530 shares of the ride-sharing company’s stock worth $257,000 after buying an additional 300 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its position in Uber Technologies by 50.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 18,449 shares of the ride-sharing company’s stock valued at $1,341,000 after acquiring an additional 6,171 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.