Uber Technologies (NYSE:UBER) Shares Up 1.9% After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 1.9% on Monday after Tigress Financial raised their price target on the stock from $96.00 to $103.00. Tigress Financial currently has a buy rating on the stock. Uber Technologies traded as high as $73.04 and last traded at $72.88. Approximately 4,093,991 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 18,264,330 shares. The stock had previously closed at $71.51.

Other equities analysts have also recently issued reports about the stock. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Truist Financial lowered their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Oppenheimer lifted their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company lowered their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Royal Bank of Canada raised their price objective on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.51.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Geode Capital Management LLC raised its holdings in shares of Uber Technologies by 2.1% during the 3rd 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 buying an additional 893,652 shares during the period. Edgewood Management LLC lifted its position in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares during the period. Janus Henderson Group PLC grew its holdings in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after buying an additional 1,601,747 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

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 company’s 50 day moving average is $75.49 and its 200-day moving average is $71.20. The stock has a market cap of $150.68 billion, a PE ratio of 35.60, a P/E/G ratio of 0.92 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share 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.