Uber Technologies (NYSE:UBER) Trading 0.3% Higher After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBERGet Free Report)’s stock price was up 0.3% during mid-day trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $75.00 to $80.00. Cantor Fitzgerald currently has an overweight rating on the stock. Uber Technologies traded as high as $69.03 and last traded at $68.98. Approximately 5,492,259 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 23,621,645 shares. The stock had previously closed at $68.77.

UBER has been the subject of several other reports. Piper Sandler lowered their price objective on Uber Technologies from $98.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Royal Bank of Canada increased their price objective on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America increased their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, October 31st. Seven investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.08.

Check Out Our Latest Stock Analysis on UBER

Insider Activity

In related 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 completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ascent Wealth Partners LLC purchased a new position in Uber Technologies during the third quarter worth about $2,087,000. Teachers Retirement System of The State of Kentucky grew its position in Uber Technologies by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after buying an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new position in Uber Technologies during the third quarter worth about $2,302,000. Polianta Ltd purchased a new position in Uber Technologies during the fourth quarter worth about $1,206,000. Finally, Brophy Wealth Management LLC purchased a new position in Uber Technologies during the third quarter worth about $1,041,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50 day simple moving average of $65.83 and a 200-day simple moving average of $70.19. The stock has a market cap of $140.50 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBERGet Free Report) last issued 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 return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies, Inc. will post 1.86 earnings per share for the current fiscal year.

About Uber Technologies

(Get Free Report)

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.

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