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

Uber Technologies, Inc. (NYSE:UBER) shares shot up 0.3% during mid-day trading 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. 5,492,259 shares were traded during trading, a decline of 77% from the average session volume of 23,621,645 shares. The stock had previously closed at $68.77.

Other equities research analysts have also issued reports about the stock. Evercore ISI upped their price target on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research note on Thursday, January 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Piper Sandler lowered their price objective on Uber Technologies from $98.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Thursday, October 17th. Seven 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, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $91.08.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Hedge funds have recently modified their holdings of the stock. 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 boosted its holdings 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 purchasing an additional 2,627,768 shares during the period. Jennison Associates LLC grew its position in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of 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. raised its position in shares of Uber Technologies by 14.7% in the third 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 in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 1.0 %

The stock has a 50-day moving average of $65.83 and a 200-day moving average of $70.19. 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 firm has a market cap of $143.35 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data 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. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts predict that Uber Technologies, Inc. will post 1.86 EPS for the current fiscal year.

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.