Uber Technologies, Inc. (NYSE:UBER – Get Free Report) shares dropped 1% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $98.00 to $82.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as low as $67.23 and last traded at $67.39. Approximately 4,649,955 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 23,645,313 shares. The stock had previously closed at $68.07.
UBER has been the subject of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Monday. Daiwa America downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Loop Capital lifted their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Truist Financial decreased their price objective on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $91.08.
Get Our Latest Stock Analysis on Uber Technologies
Insider Activity at Uber Technologies
Hedge Funds Weigh In On Uber Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth $4,136,000. Allworth Financial LP raised its position in Uber Technologies by 8.9% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares in the last quarter. Principal Securities Inc. lifted its stake in Uber Technologies by 39.0% during the fourth quarter. Principal Securities Inc. now owns 40,604 shares of the ride-sharing company’s stock worth $2,449,000 after purchasing an additional 11,400 shares during the last quarter. TigerOak Management L.L.C. purchased a new position in shares of Uber Technologies in the 4th quarter worth about $1,278,000. Finally, Covenant Asset Management LLC increased its position in shares of Uber Technologies by 0.4% during the 4th quarter. Covenant Asset Management LLC now owns 53,868 shares of the ride-sharing company’s stock valued at $3,249,000 after purchasing an additional 217 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
Uber Technologies Trading Down 0.2 %
The stock has a fifty day moving average of $65.77 and a two-hundred day moving average of $70.17. The company has a market capitalization of $140.21 billion, a PE ratio of 33.13, a PEG ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.
Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.86 earnings per share for the current fiscal 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.
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