Uber Technologies (NYSE:UBER) Stock Price Up 5.8% – Still a Buy?

Uber Technologies, Inc. (NYSE:UBERGet Free Report)’s stock price rose 5.8% during trading on Tuesday . The company 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.

Trending Headlines about Uber Technologies

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $109.00 target price on shares of Uber Technologies in a research note on Tuesday, November 4th. UBS Group set a $122.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, November 5th. DA Davidson lifted their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Melius lowered shares of Uber Technologies from a “hold” rating to a “sell” rating and set a $73.00 target price on the stock. in a report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Two investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.33.

Read Our Latest Stock Report on Uber Technologies

Uber Technologies Trading Up 5.8%

The company has a 50-day moving average price of $87.35 and a 200-day moving average price of $91.40. The firm 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 debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15.

Uber Technologies (NYSE:UBERGet Free Report) last posted its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 175,423 shares in the company, valued at $14,096,992.28. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,875 shares of company stock valued at $1,348,818. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of UBER. Measured Wealth Private Client Group LLC acquired a new stake in shares of Uber Technologies during the third quarter worth about $25,000. Kilter Group LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $26,000. Westend Capital Management LLC acquired a new position in shares of Uber Technologies in the third quarter valued at approximately $27,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies during the second quarter worth approximately $28,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Uber Technologies during the second quarter worth $30,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Company Profile

(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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