Uber Technologies (NYSE:UBER) Stock Price Up 5.8% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBERGet Free Report) rose 5.8% during mid-day trading on Tuesday . The stock traded as high as $85.65 and last traded at $85.4460. Approximately 27,466,798 shares traded hands during trading, an increase of 28% from the average daily volume of 21,526,352 shares. The stock had previously closed at $80.74.

Key Headlines Impacting Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Melius cut Uber Technologies from a “hold” rating to a “sell” rating and set a $73.00 target price on the stock. in a research report on Monday. Piper Sandler set a $107.00 price objective on shares of Uber Technologies in a research note on Wednesday, November 5th. Truist Financial raised their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Arete Research set a $125.00 price target on shares of Uber Technologies and gave the company a “buy” rating in a report on Wednesday, December 3rd. Finally, Susquehanna reiterated a “positive” rating and issued a $110.00 price target on shares of Uber Technologies in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $107.33.

View Our Latest Stock Analysis on UBER

Uber Technologies Price Performance

The company has a market capitalization of $177.54 billion, a price-to-earnings ratio of 10.98 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The company’s 50 day simple moving average is $87.35 and its 200-day simple moving average is $91.40.

Uber Technologies (NYSE:UBERGet Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 3,125 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total value of $251,125.00. Following the transaction, the insider owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,875 shares of company stock worth $1,348,818 over the last three months. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new stake in Uber Technologies in the third quarter valued at about $25,000. Westend Capital Management LLC acquired a new stake in shares of Uber Technologies during the 3rd quarter valued at approximately $27,000. Kilter Group LLC acquired a new stake in shares of Uber Technologies during the 2nd quarter valued at approximately $26,000. West Oak Capital LLC bought a new position in Uber Technologies during the second quarter worth $28,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the second quarter valued at $30,000. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

(Get Free Report)

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

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