Uber Technologies (NYSE:UBER) Shares Gap Up to $68.09

Uber Technologies, Inc. (NYSE:UBER)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $68.09, but opened at $72.40. Uber Technologies shares last traded at $71.99, with a volume of 5,966,890 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UBER. Roth Mkm upped their price objective on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Evercore ISI lifted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. JMP Securities boosted their price target on Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Stock Performance

The company has a market cap of $152.28 billion, a price-to-earnings ratio of 116.90, a PEG ratio of 1.21 and a beta of 1.33. The stock has a 50 day simple moving average of $69.41 and a 200 day simple moving average of $70.94. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last posted 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. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the prior year, the firm posted $0.18 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, analysts predict that Uber Technologies, Inc. will post 1.06 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’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 transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after purchasing an additional 43,275,830 shares during the last quarter. Norges Bank bought a new stake in Uber Technologies in the 4th quarter valued at $1,415,778,000. Edgewood Management LLC bought a new position in Uber Technologies during the fourth quarter valued at about $783,401,000. Price T Rowe Associates Inc. MD raised its stake in shares of Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares in the last quarter. Finally, GQG Partners LLC increased its stake in Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.