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

Shares of Uber Technologies, Inc. (NYSE:UBER) rose 0.3% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $90.00 to $92.00. Truist Financial currently has a buy rating on the stock. Uber Technologies traded as high as $77.22 and last traded at $76.74. Approximately 3,991,933 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 19,396,282 shares. The stock had previously closed at $76.48.

A number of other research analysts have also recently weighed in on the stock. Loop Capital lifted their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wolfe Research raised their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Tigress Financial boosted their price target on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler reissued an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.71.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UBER. Avidian Wealth Enterprises LLC acquired a new stake in Uber Technologies during the 3rd quarter worth $292,000. Harvest Portfolios Group Inc. grew its position in shares of Uber Technologies by 17.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 14,051 shares of the ride-sharing company’s stock worth $1,056,000 after buying an additional 2,103 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Uber Technologies by 4.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 66,665 shares of the ride-sharing company’s stock worth $5,011,000 after buying an additional 2,813 shares during the period. Hanseatic Management Services Inc. grew its position in shares of Uber Technologies by 23.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,238 shares of the ride-sharing company’s stock worth $93,000 after buying an additional 234 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Uber Technologies by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,460,332 shares of the ride-sharing company’s stock worth $184,919,000 after buying an additional 162,528 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

The stock has a market cap of $156.41 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.89 and a beta of 1.39. The stock’s fifty day moving average is $70.62 and its 200-day moving average is $71.63. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current 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.