Uber Technologies (NYSE:UBER) Trading 0.5% Higher – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER) shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $74.29 and last traded at $74.36. 3,353,329 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 23,409,979 shares. The stock had previously closed at $74.02.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UBER shares. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a report on Thursday, February 6th. Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company boosted their price objective on Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, April 9th. Finally, Citigroup cut their target price on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

Uber Technologies Stock Performance

The company has a 50-day moving average price of $74.09 and a two-hundred day moving average price of $71.45. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $157.47 billion, a P/E ratio of 16.51, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, insider Tony West sold 23,404 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in the business. Navalign LLC lifted its stake in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after purchasing an additional 126 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after buying an additional 133 shares during the period. Amplius Wealth Advisors LLC lifted its stake in shares of Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock valued at $302,000 after acquiring an additional 145 shares during the last quarter. Welch & Forbes LLC boosted its holdings in Uber Technologies by 3.9% during the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock valued at $237,000 after acquiring an additional 148 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in Uber Technologies by 3.5% during the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.