Uber Technologies (NYSE:UBER) Posts Earnings Results, Beats Expectations By $2.44 EPS

Uber Technologies (NYSE:UBER) announced its quarterly earnings results on Tuesday. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44, Zacks reports. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded down $6.36 on Tuesday, hitting $93.36. 26,244,821 shares of the company were exchanged, compared to its average volume of 20,644,176. The company’s 50 day moving average price is $95.66 and its two-hundred day moving average price is $90.79. Uber Technologies has a one year low of $59.33 and a one year high of $101.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $194.69 billion, a price-to-earnings ratio of 15.86 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UBER shares. JPMorgan Chase & Co. increased their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Barclays reiterated an “overweight” rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $108.00 target price on shares of Uber Technologies in a research note on Wednesday, October 29th. KeyCorp lifted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, UBS Group lifted their price objective on shares of Uber Technologies from $117.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.82.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company’s stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 604,946 shares of company stock worth $58,950,116. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of the stock. Osterweis Capital Management Inc. grew its position in Uber Technologies by 66.2% in the second quarter. Osterweis Capital Management Inc. now owns 778 shares of the ride-sharing company’s stock valued at $73,000 after purchasing an additional 310 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Uber Technologies by 248.1% in the 2nd quarter. McIlrath & Eck LLC now owns 818 shares of the ride-sharing company’s stock valued at $76,000 after acquiring an additional 583 shares during the period. Gallagher Fiduciary Advisors LLC bought a new position in shares of Uber Technologies in the 2nd quarter valued at about $221,000. Connecticut Wealth Management LLC bought a new position in shares of Uber Technologies in the 2nd quarter valued at about $230,000. Finally, Kestra Investment Management LLC grew its position in shares of Uber Technologies by 301.7% in the 2nd quarter. Kestra Investment Management LLC now owns 2,812 shares of the ride-sharing company’s stock valued at $262,000 after acquiring an additional 2,112 shares during the period. 80.24% of the stock is owned by institutional investors.

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.