Uber Technologies (NYSE:UBER) Shares Climb 1% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER) traded up 1% during mid-day trading on Wednesday. The stock traded as high as $71.09 and last traded at $70.7750. Approximately 15,513,228 shares changed hands during trading, a decline of 18% from the average session volume of 19,002,914 shares. The stock had previously closed at $70.05.

Key Uber Technologies News

Investors following UBER have been watching these news items:

• Positive Sentiment: Citi analyst Ronald Josey set a $105 price target, implying about 52% upside from Uber’s November 12 close. That view supports the bullish case, though the target is an analyst forecast, not a guarantee. Citi price target article
• Neutral Sentiment: Uber is rolling out women-driver preference and teen-safety features in Canada. These additions may improve customer appeal and safety, but the reports do not quantify their likely effect on revenue. Canadian safety features article
• Negative Sentiment: Uber says hackers stole U.S. drivers’ license information in an October breach involving a third-party technology provider. The incident affects thousands of drivers and could create reputational, legal or compliance costs; the reports do not establish the ultimate financial impact. Reuters data breach report

Analyst Upgrades and Downgrades

UBER has been the subject of several recent analyst reports. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Uber Technologies in a report on Wednesday, August 5th. Arete Research downgraded Uber Technologies from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research note on Thursday, September 10th. Moffett Nathanson increased their price objective on Uber Technologies from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Mizuho set a $112.00 target price on Uber Technologies and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Wedbush restated an “outperform” rating and set a $91.00 target price on shares of Uber Technologies in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, forty-four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.08.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $142.14 billion, a PE ratio of 41.19, a P/E/G ratio of 2.62 and a beta of 1.33. The stock has a 50-day simple moving average of $69.64 and a 200 day simple moving average of $72.78.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, November 4th. The ride-sharing company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. The firm had revenue of $14.77 billion for the quarter, compared to analysts’ expectations of $14.66 billion. During the same period in the prior year, the company earned $3.11 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Uber Technologies, Inc. will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, CEO Dara Khosrowshahi acquired 141,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average cost of $70.96 per share, for a total transaction of $10,005,360.00. Following the transaction, the chief executive officer directly owned 1,367,100 shares of the company’s stock, valued at approximately $97,009,416. This trade represents a 11.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 28,170 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $71.31, for a total value of $2,008,802.70. Following the completion of the sale, the insider directly owned 149,525 shares in the company, valued at approximately $10,662,627.75. The trade was a 15.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.81% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in UBER. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Uber Technologies by 2.7% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,073,845 shares of the ride-sharing company’s stock valued at $416,119,000 after acquiring an additional 160,217 shares during the last quarter. Coastwise Capital Group LLC raised its stake in Uber Technologies by 13.6% in the 3rd quarter. Coastwise Capital Group LLC now owns 9,160 shares of the ride-sharing company’s stock valued at $628,000 after purchasing an additional 1,100 shares during the last quarter. Intesa Sanpaolo Wealth Management raised its stake in Uber Technologies by 242.9% in the 3rd quarter. Intesa Sanpaolo Wealth Management now owns 18,553 shares of the ride-sharing company’s stock valued at $1,271,000 after purchasing an additional 13,143 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Uber Technologies by 338.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,188 shares of the ride-sharing company’s stock valued at $81,000 after purchasing an additional 917 shares in the last quarter. Finally, TIAA CREF Individual & Institutional Services LLC lifted its holdings in Uber Technologies by 15.8% in the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 9,314 shares of the ride-sharing company’s stock valued at $638,000 after purchasing an additional 1,273 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

About Uber Technologies

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.