Uber Technologies (NYSE:UBER) Trading 3.5% Higher After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) shares traded up 3.5% during trading on Monday 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 $67.35 and last traded at $66.87. 12,943,129 shares traded hands during trading, a decline of 41% from the average session volume of 21,903,723 shares. The stock had previously closed at $64.59.

Several other equities research analysts also recently weighed in on the company. Raymond James initiated coverage on Uber Technologies in a report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target for the company. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research report on Thursday. Jefferies Financial Group raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer raised their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.53.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. increased its holdings in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Fairfield Financial Advisors LTD bought a new position in shares of Uber Technologies during the second quarter worth approximately $36,000. Financial Management Professionals Inc. grew its position in Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Transcendent Capital Group LLC raised its stake in Uber Technologies by 3,928.6% during the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 550 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Uber Technologies by 84.7% in the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 3.5 %

The firm’s fifty day moving average is $67.98 and its 200-day moving average is $70.69. The company has a market capitalization of $140.77 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. 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 announced its quarterly earnings results 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. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Uber Technologies, Inc. will post 1.89 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.