Uber Technologies (NYSE:UBER) Trading Down 1% Following Analyst Downgrade

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 1% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $98.00 to $82.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as low as $67.23 and last traded at $67.39. Approximately 4,649,955 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 23,645,313 shares. The stock had previously closed at $68.07.

UBER has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. JMP Securities lowered Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research report on Thursday, January 2nd. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group increased their price target on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, December 18th. Seven investment 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’s stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $91.08.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred 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 owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avion Wealth lifted its position in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth $33,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Uber Technologies during the 4th quarter valued at $35,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 2.0 %

The company has a 50 day moving average of $65.83 and a two-hundred day moving average of $70.19. The stock has a market capitalization of $140.50 billion, a PE ratio of 33.20, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

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