Uber Technologies (NYSE:UBER) Stock Price Up 4.4% After Better-Than-Expected Earnings

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded up 4.4% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $67.89 and last traded at $67.34. 14,039,447 shares were traded during trading, a decline of 49% from the average session volume of 27,305,328 shares. The stock had previously closed at $64.48.

The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%.

Analyst Ratings Changes

UBER has been the subject of a number of research analyst reports. Citigroup lowered their price target on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a report on Thursday. Loop Capital increased their price target on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wolfe Research increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Thursday, October 17th. Finally, Piper Sandler dropped their price target on Uber Technologies from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday. Seven equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’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 sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. AMF Tjanstepension AB acquired a new position in Uber Technologies during the third quarter valued at $163,468,000. Mather Group LLC. boosted its stake in Uber Technologies by 123.1% during the 3rd quarter. Mather Group LLC. now owns 5,357 shares of the ride-sharing company’s stock valued at $403,000 after purchasing an additional 2,956 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Uber Technologies by 5.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 14,853 shares of the ride-sharing company’s stock valued at $1,116,000 after purchasing an additional 764 shares during the period. Artemis Investment Management LLP boosted its stake in Uber Technologies by 58.4% during the 3rd quarter. Artemis Investment Management LLP now owns 107,492 shares of the ride-sharing company’s stock valued at $8,079,000 after purchasing an additional 39,619 shares during the period. Finally, Sovereign Financial Group Inc. raised its holdings in Uber Technologies by 12.6% in the 3rd quarter. Sovereign Financial Group Inc. now owns 3,318 shares of the ride-sharing company’s stock valued at $249,000 after acquiring an additional 372 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

The firm has a fifty day simple moving average of $65.31 and a 200 day simple moving average of $70.07. 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 stock has a market cap of $147.47 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 0.77 and a beta of 1.39.

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.