Uber Technologies (NYSE:UBER) Stock Price Up 0.6% on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) shares shot up 0.6% on Wednesday after Loop Capital raised their price target on the stock from $83.00 to $84.00. Loop Capital currently has a buy rating on the stock. Uber Technologies traded as high as $72.59 and last traded at $72.30. 2,155,342 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 18,436,930 shares. The stock had previously closed at $71.89.

A number of other equities research analysts also recently weighed in on UBER. Citigroup upped their target price on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price target on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, UBS Group dropped their price target on Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Buying and Selling

In related news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the sale, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the sale, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its holdings in Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. Financial Management Professionals Inc. boosted its holdings in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the period. WR Wealth Planners LLC boosted its holdings in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp bought a new stake in Uber Technologies during the first quarter valued at about $32,000. Finally, MCF Advisors LLC boosted its holdings in Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s fifty day simple moving average is $69.58 and its 200-day simple moving average is $71.32. The company has a market capitalization of $149.73 billion, a P/E ratio of 114.87, a PEG ratio of 1.31 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities analysts forecast that Uber Technologies, Inc. will post 1.05 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.