Uber Technologies (NYSE:UBER) Trading 2.1% Higher on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 2.1% during trading on Friday after Wolfe Research raised their price target on the stock from $90.00 to $92.00. Wolfe Research currently has an outperform rating on the stock. Uber Technologies traded as high as $64.54 and last traded at $64.47. Approximately 8,957,901 shares traded hands during trading, a decline of 47% from the average daily volume of 16,863,773 shares. The stock had previously closed at $63.17.

Other equities research analysts have also issued reports about the stock. Daiwa Capital Markets lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Wells Fargo & Company dropped their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Tigress Financial upped their price objective on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Finally, KeyCorp cut their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Seven 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UBER. Geode Capital Management LLC lifted its stake 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 worth $3,184,013,000 after acquiring an additional 893,652 shares during the period. Edgewood Management LLC boosted its stake in shares of 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 last quarter. Legal & General Group Plc increased its position in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the period. Janus Henderson Group PLC boosted its position in 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 valued at $998,767,000 after acquiring an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 1,601,747 shares during the period. 80.24% of the stock is owned by institutional investors.

Uber Technologies Stock Performance

The stock has a market capitalization of $136.01 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. 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 has a 50-day moving average price of $67.98 and a two-hundred day moving average price of $70.69.

Uber Technologies (NYSE:UBER) last posted 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. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Uber Technologies, Inc. will post 1.89 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.